Rate of income tax for specified AOP

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Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2010 What is the rate of income tax that is chargeable to a specified AOP? Would there be any slabs or the entire income is charged under maximum marginal rate?

casunilnarwal

casunilnarwal (Expert)
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22 January 2010 Rate of AOP is in the slab rate as individual
For Individuals (includes nonresidents), HUF, AOP and BOI
1. From 1,60,000 to 3,00,000 : 10% of amount greater than Rs. 1,60,000.
2. From 3,00,000 to 5,00,000 : 20% of amount greater than Rs. 3,00,000 plus Rs. 14,000.
3. Above 5,00,000 : 30% of amount greater than Rs. 5,00,000 plus Rs. 54,000.