TWO INDIVIDUALS ARE CO OWNERS OF A COMMERCIAL PROPERTY ON RENT. SEPARATE PAN FOR THE AOP. WHETHER THE COMPUTATION ON INCCOME OF RENT BE COMPUTED AS RATES APPLICABLE TO AOP (USUAL RATES) OR FIRM (30%)
4 Replies
CA Nitu Agarwal
(CA, M.Com)
(266 Points)
Replied 01 June 2011
Rates applicable to AOP.
But it should be noted that if any of the two individual has income exceeding maximum amount not chargeable to tax, then the rate of tax for AOP would be 30% otherwise it would be normal tax rates applicable to individuals.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 01 June 2011
if the income of aop than rate of aop will be charged
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 01 June 2011
| Originally posted by : Nitu Agarwal | ||
 |
Rates applicable to AOP. But it should be noted that if any of the two individual has income exceeding maximum amount not chargeable to tax, then the rate of tax for AOP would be 30% otherwise it would be normal tax rates applicable to individuals. |
 |
Agreed.
Prem Chandra Gupta
(Financial Specialist)
(52 Points)
Replied 06 June 2011
1 - Profit or loss on shares are treated as short term capital gain / Loss or treat as business profit / loss.
2 - In daily transaction of shares turnover treated i.e. sales amount or purchases amount or difference between purchases and sales amount. Is it compalsory for TYax audit.
Prem
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