Question And Answer
Subject: AOP MMR tax rate
Category: 
Querist: Subodh vora
Answered by:
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Date: February 19, 2022
Query asked by Subodh vora

What is tax rate of AOP ( Members having taxable income). Is it Maximum Marginal Rate which at present 42 % ( including surcharge and cess) right from Rs 1/-

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Where income of any member of AOP exceeds the maximum amount which is not chargeable to income-tax (i.e., basic exemption limit), the AOP shall be taxed at Maximum Marginal Rate i.e., 30 per cent plus surcharge and HEC as applicable.



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4 comments on “AOP MMR tax rate
  1. P Venugopal says:

    Will MMR apply to a Society registered under Societies Registration Act of that State.

  2. MOTI says:

    SIR, PLEASE SHARE CITATION FOR THIS CLARIFICATION.

  3. Mukesh says:

    what is rate for surcharge in mmr?

  4. JOSEPH P VARGHESE says:

    For FY 2023-24 AY 2024-25, What is the rate of Surcharge on MMR? Is there a slab or 37.5%?
    Is tax calculation of a RWA mandatory at MMR? Or is there any limit of an amount of Income over Expenditure that will be taxed under MMR?

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