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of <h1>Tax on Firms and Associations Charged at Maximum Marginal Rate Under Income-tax Act Section Rules</h1> The provisions address taxation of firms, associations of persons, and bodies of individuals under the Income-tax Act. Tax on a firm's total income is charged at the maximum marginal rate. For associations or bodies where members' individual income shares are unknown or indeterminate, tax is levied on the total income at the maximum marginal rate. If any member's total income (excluding their share from the association) exceeds the non-taxable limit for individuals, the entire association's income is taxed at the maximum marginal rate or a higher applicable rate if any member's tax rate exceeds that maximum. Shares are considered indeterminate if unknown at formation or any time thereafter. These rules exclude companies, co-operative societies, and certain registered societies.
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