hi can you clarify my doubt under what head the income of an aop will be taxed ? is it under pgbp or other sources ? the only income of an aop is interest from bank & rental income. kindly clarify my doubt .
1 Replies
CA Ashish Pathak
(Employed at Cipla Ltd.)
(2779 Points)
Replied 19 August 2012
Hey Anu, in case of AOPs the tax is not charged directly on AOPs but rather the Total Income of AOP is allocated in the income of members and then tax is recovered from members. In your case the income from bank interest should be taxable under other sources and rental income under House Property. Regards.
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