rishabhsharma (Article Assistant) (140 Points)
28 March 2019Charitable Trust has income of rs. 2,00,000 from other sources. Since aggregate income is less then slab rate, tax will be nil.
Department has calculated Aggregate income rs. 2,00,000 and Charging tax @ 30% on such income.
can anyone please explain the reason of taxing income @ 30%.
Thanks.
priyankagupta
(article)
(361 Points)
Replied 28 March 2019
rishabhsharma
(Article Assistant)
(140 Points)
Replied 28 March 2019
No data is entered in application of income.
priyankagupta
(article)
(361 Points)
Replied 28 March 2019
rishabhsharma
(Article Assistant)
(140 Points)
Replied 28 March 2019
The ITR was uploaded under the status "AOP" and percentage of share of members was not mentioned in ITR.
As per section 167B, if the share of members is unknown, the total income of AOP will be taxed at maximum marginal rate.
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