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Taxability of aop (trust not res. u/s. 12a)
I want to know taxability for AOP . and on what amount rate of tax is chargeble
Replies (2)
A trust which is not registered under sec 12A will be assessed as an AOP,
The expenses made for the objects of the trust will be allowable expenses. Surplus if any, will be taxable at the maximum marhginal rate of 30%
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