https://www.taxtmi.com/acts?id=48755 Where members' shares in an association of persons or body of individuals are indeterminate or unknown, tax is charged on the association's total income at the maximum marginal rate, or at a higher rate if any member's personal tax rate exceeds that rate. Where shares are determinate, portions attributable to members chargeable at higher rates are taxed at those rates and the balance at the maximum marginal rate; shares are deemed indeterminate if indeterminate on formation or thereafter. en-us Fri, 14 Feb 2025 11:35:28 +0530 Fri, 14 Feb 2025 11:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48755 Where members' shares in an association of persons or body of individuals are indeterminate or unknown, tax is charged on the association's total income at the maximum marginal rate, or at a higher rate if any member's personal tax rate exceeds that rate. Where shares are determinate, portions attributable to members chargeable at higher rates are taxed at those rates and the balance at the maximum marginal rate; shares are deemed indeterminate if indeterminate on formation or thereafter. Act-Rules Bills Fri, 14 Feb 2025 11:35:28 +0530 https://www.taxtmi.com/acts?id=48755