AOP TAXATION IN CASE OF NO PROFIT SHARING

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Nagaraj (Querist)
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05 January 2023 DEAR EXPERTS,

IF MEMBERS DOES NOT CONTRIBUTE ANY CAPITAL TO AOP AND PROFIT ALSO NOT SHARED BY ANY MEMBER. WHAT IS THE AOP TAX RATE ?

CA R SEETHARAMAN (Expert)
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06 January 2023 Individual slab rates applicable.

Nagaraj (Querist)
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06 January 2023 When share is inderminate it should be taxed at MMR

CA R SEETHARAMAN (Expert)
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06 January 2023 Yes, in such a case.

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