TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tax treatment of member's share in association of persons: included or excluded based on association's tax rate and liability</h1> Where an assessee is a member of an association of persons or body of individuals (excluding companies, co-operative societies and societies registered under the Societies Registration Act), the member's share of the association's income, computed as provided by law, is generally not separately taxable in the member's hands. If the association is taxed at the maximum marginal or a higher rate, the member's computed share is excluded from his total income; otherwise it is included. If the association's total income attracts no tax, the member's share is chargeable to tax as part of his total income.
TaxTMI 
TaxTMI 
