Tax rate

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munish (Querist)
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15 January 2012 That an AOP ( Truck Operator Union )is running the business and profession of freight receiving. After distribute of freight ( without share specified ) liable to
tax . Only TDS refund and miner portion of fund remain in corpus fund. Now my question is @ which rate income chargeable to tax ?
Some consultant ask me @ normal rate i.e. 10%
and some ask @ 30%. I am confused ? Show me the way what would be the tax rate ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 January 2012 This is an AOP not providing any specific service to its members. The Service being provided is general in nature, and mutuality concept behind the formation of the AOP makes it a non taxable entity.
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You may take the above plea for non filing of return.
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For detailed study you may refer Section 28(iii).
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