I want to know that what is the difference between AOP and firm.
please elaborate it in detail regarding following points..
taxation rates
partnership deed
which is more beneficial among these two?
taxation rate of a firm is 30% plus education cess (plus surcharge if income exceeds Rs. 1 crore)
for detailed info regarding tac rates of AOP you can visit this site https://www.incometaxindia.gov.in/Pages/i-am/aop.aspx?k=Tax+Payment
Deed: partnership deed is required in case of fiem. However it is advisable to get a registered deed i case of AOP to avoid any conflict , Also if share of member is indefinite then AOP is taxable at maximum marginal rate if all the members are resident and 40% if any member is non resident.
Partnership is more beneficial..
As remuneration, interest given to partners can be claimed as deduction subject to section 40b
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