| Question And Answer | |
|---|---|
| Subject: | What is the Surcharge Rate for AOP whose all members have income above taxable limits and shares of the beneficiaries are determinate |
| Category: | Income-Tax |
| Querist: | VINAY GOENKA |
| Answered by: | Reply of the Expert is awaited; |
| Tags: | rate of tax |
| Date: | June 26, 2023 |
Sir, i want to know the rate of surcharge applicable for AOP, whose all members have income above taxable limits and shares of the beneficiaries are determinate. The Taxable Income of the AOP is less than Rs 5 Crores for the AY 2022-23. All the members of AOP are Partnership Firms, their shares are determinate and all are having Income above the taxable limits. My Question is whether the applicable Surcharge will be 25% or 37% ?
Reply of the Expert is awaited. Please check back later
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org