1] c0-legal heirs offered rent income as AOP for years 2] can LTCG be later taxed in individual hands of legal heirs since buyer reuses to buy property from AOP?
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The Trust derives income of 2Lakh from immovable property rent only and part of the funds are donated to national causes. No exemption from I.T Comm. had been taken as of yet. Members has no share of undetermined or determined funds. In fact the working is voluntary. Why CPC applied sec 167 and demand surcharge of 37% total of 42%. Grievance was file to CPC stating no funds share either determined or undetermined was with the members. AY 2021-22 & 2022-23 CPC levied surcharge levied at 37% What to do as to give CPC reply and how the surcharge is…
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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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legal heirs vs aop