Income Tax Act Sec 167B: AOP taxed at maximum rate if any member's income exceeds exemption limit.

Income Tax Act Sec 167B: AOP taxed at maximum rate if any member's income exceeds exemption limit. https://www.taxtmi.com/highlights?id=54226 Applicability of section 167B - taxing at maximum marginal rate - assessment of AOP - Unambiguous provisions of 167B(2), if income of any member (other than the share of such Association) is higher than the basic exemption limit of the relevant year, the income of the Association is chargeable at the maximum marginal rate. - AT en-us Sat, 01 Aug 2020 11:38:56 +0530 Sat, 01 Aug 2020 11:38:56 +0530 TaxTMI RSS Generator Income Tax Act Sec 167B: AOP taxed at maximum rate if any member's income exceeds exemption limit. https://www.taxtmi.com/highlights?id=54226 Applicability of section 167B - taxing at maximum marginal rate - assessment of AOP - Unambiguous provisions of 167B(2), if income of any member (other than the share of such Association) is higher than the basic exemption limit of the relevant year, the income of the Association is chargeable at the maximum marginal rate. - AT Highlights Income Tax Sat, 01 Aug 2020 11:38:56 +0530 https://www.taxtmi.com/highlights?id=54226