CA Ashwani Agarwal (Practice) (3049 Points)
24 July 2013An AOP has 3 memebers A B and C.
Shares are equal.
Income of AOP is 30000.
Indivdual income is
A 50000
B 60000
C 120000 What is the tax liability on AOP and individuals?
CA JATINDER KAPOOR
(JOB)
(305 Points)
Replied 26 July 2013
Since the income of all the members are below the taxable limit AOPwill be assessed as individual.
The members of AOP can claim relief for double tax of income .
CAclubindia
