INCOME TAX LANGUAGE

Check total income of INDIVIDUAL..

Which individual.... member of AOP/BOI/executor....

What to check... if his/her total income exceeds 2.50L or 3 lakhs or 5 lakhs... as per his/her age... (condition : do not include income from the share holding from  AOP/BOI...)

If yes.... then

NOT in Query..... but completing the rule....

tax liability over the AOP/BOI.... will be... at Maximum Marginal Rate (MMR)...

Otherwise.....

Tax Liability, But at what rate sir ??

Either at MMR or.... at slab rate !!!

Thank You Sir............

You are welcome..         

Originally posted by : Dhirajlal Rambhia
	Check total income of INDIVIDUAL.. Which individual.... member of AOP/BOI/executor.... What to check... if his/her total income exceeds 2.50L or 3 lakhs or 5 lakhs... as per his/her age... (condition : do not include income from the share holding from  AOP/BOI...) If yes.... then NOT in Query..... but completing the rule.... tax liability over the AOP/BOI.... will be... at Maximum Marginal Rate (MMR)... Otherwise.....

Sir, Whether individual income matters for filling AOP Return ?? If any member has more than 10 Lac income & if it is an exempt income then what ?? Another point is the ratio, there is an option to write a member's sharing ratio , is it compulsory to mention it ??