| Question And Answer | |
|---|---|
| Subject: | Surchage on AOP |
| Category: | Income-Tax |
| Querist: | Dilip Gandhi |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Surcharge on AOP |
| Date: | April 30, 2023 |
when AOP is taxed at MMRate, Surcharge Should Charge at Slab wise or flat 37%
As per section 2(29C) of the Act, MMR, means the rate of income tax (including a surcharge on income tax, if any) applicable in relation to the highest slab of income in the case of an individual, association of persons or, as the case may be, a body of individuals as specified in the Finance Act of the relevant year. Therefore the highest tax rate and surcharge would apply.
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