Answers On Topic: rate of tax
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% ?
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Does 115BBE apply to amount declared during survey u/s 133A?
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Assessee is trader of land During the course of survey U/Sec. 133A some sale deed along with note about acceptance of cash consideration is mention. Assessee accept that it is for the sale of land . Simillarly these are notings found for purchase of land also . Whether unrecorded sale consideration it will be taxed as normal business income as assessee has offer the explanation and also given the source of the same. Or it will be taxed under Sec. 115BBE. Whether assessee can Take stand that only income or application which is higher to be taxed ? Pl guide…
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Assessee company is a private limited company and has issued its shares of Rs. 100/- each fully paid up at a premium of Rs. 80/- in the year 2010. As on today the value of the shares is Rs.500/-. the articles of association of the company has a clause for giving option in case of transfer of shares by any shareholder to the existing shareholders only. None of the existing shareholder are ready to buy the said shares from the shareholder who is interested in selling. In this situation can company being a private limited company buy back the shares…
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In respect of Excess Stock and Excess Cash Found during the course of Survey,Assessing Officer has invoked Section 115BBE.Whereas, Assessee has offered these Amounts for taxation under theHead-Business Income and paid the the Tax under normal provisions.Whether Assessing officer is right.
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What is the Surcharge Rate for AOP whose all members have income above taxable limits and shares of the beneficiaries are determinate