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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Members' Share Calculation in AOP/BOI Income: Deducting Remuneration, Apportioning Balance, and Interest Deductions Under Section 67A</h1> Clause 309 of the Income Tax Bill, 2025 and Section 67A of the Income Tax Act, 1961 establish methods for computing members' shares in Association of Persons (AOP) or Body of Individuals (BOI) income. Both provisions exclude companies, cooperative societies, and registered societies. The computation method involves deducting remuneration paid to members from total income before apportioning the balance according to entitlement. If the result is profit, remuneration is added back; if loss, it's adjusted against the apportioned amount. Members can deduct interest paid on capital borrowed for investment under 'Profits and gains of business.' While similar in core principles, Clause 309 introduces refinements reflecting contemporary tax challenges.
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