https://www.taxtmi.com/acts?id=50886 A new provision taxes the total income of an association of persons or body of individuals at the maximum marginal rate where members' individual shares in whole or part of the income are indeterminate or unknown, but applies any higher tax rate that is applicable to a member's own total income. Where shares are determinate, the provision taxes the association at the maximum marginal rate if a member's income (excluding his share) exceeds the non-taxable threshold, and apportions higher rates to portions attributable to members chargeable at rates above the maximum marginal rate. en-us Wed, 16 Apr 2025 16:35:23 +0530 Thu, 17 Apr 2025 13:14:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50886 A new provision taxes the total income of an association of persons or body of individuals at the maximum marginal rate where members' individual shares in whole or part of the income are indeterminate or unknown, but applies any higher tax rate that is applicable to a member's own total income. Where shares are determinate, the provision taxes the association at the maximum marginal rate if a member's income (excluding his share) exceeds the non-taxable threshold, and apportions higher rates to portions attributable to members chargeable at rates above the maximum marginal rate. Act-Rules F. Acts / Amendment Acts Wed, 16 Apr 2025 16:35:23 +0530 https://www.taxtmi.com/acts?id=50886