TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
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>Section 167B: Tax on associations when member shares unknown charged at maximum marginal rate</h1> Section 167B of the Income Tax Act, 1961 governs tax charges on associations of persons or bodies of individuals when member shares are indeterminate or unknown. When individual shares in income cannot be determined, tax is charged on total income at maximum marginal rate, unless a member faces higher rates. For determinate shares, if any member's other income exceeds tax-free threshold, the association pays maximum marginal rate. When members face higher tax rates, their proportionate income is taxed at those higher rates while remaining income is taxed at maximum marginal rate.
TaxTMI 
