Maximum marginal rate cannot govern public charitable association income assessed at normal Association of Persons rates. https://www.taxtmi.com/highlights?id=103858 Section 167B's maximum marginal rate is inapplicable to income of a public charitable association assessed as an Association of Persons. Income from charitable activity for the public at large is to be computed at the normal tax rate applicable to an Association of Persons, rather than at the maximum marginal rate. Comparable treatment applies to registered trusts undertaking public charitable activity. en-us Thu, 17 Sep 2026 07:52:26 +0530 Thu, 17 Sep 2026 07:52:28 +0530 TaxTMI RSS Generator Maximum marginal rate cannot govern public charitable association income assessed at normal Association of Persons rates. https://www.taxtmi.com/highlights?id=103858 Section 167B's maximum marginal rate is inapplicable to income of a public charitable association assessed as an Association of Persons. Income from charitable activity for the public at large is to be computed at the normal tax rate applicable to an Association of Persons, rather than at the maximum marginal rate. Comparable treatment applies to registered trusts undertaking public charitable activity. Highlights Income Tax Thu, 17 Sep 2026 07:52:26 +0530 https://www.taxtmi.com/highlights?id=103858