https://www.taxtmi.com/forum/issue?id=117433 Where individual shares of members in an association of persons are indeterminate or unknown, tax is charged on the AOP's total income at the maximum marginal rate, except where a member's total income is chargeable at a higher rate, in which case that higher rate applies; an existing administrative circular contends the provision should not apply and that the ordinary rate for the AOP should be used, posing a conflict between the statute's default rule and prior circular guidance. en-us Thu, 19 Aug 2021 16:56:18 +0530 Thu, 23 Jan 2025 15:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117433 Where individual shares of members in an association of persons are indeterminate or unknown, tax is charged on the AOP's total income at the maximum marginal rate, except where a member's total income is chargeable at a higher rate, in which case that higher rate applies; an existing administrative circular contends the provision should not apply and that the ordinary rate for the AOP should be used, posing a conflict between the statute's default rule and prior circular guidance. Discussion-Forum Income Tax Thu, 19 Aug 2021 16:56:18 +0530 https://www.taxtmi.com/forum/issue?id=117433