Taxability of aop (trust not res. u/s. 12a)
Lalit Kumar (Mr) (27 Points)
18 March 2017
I want to know taxability for AOP . and on what amount rate of tax is chargeble
2 Replies
CA V KARTHICK
(Chartered Accountant in Practice)
(506 Points)
Replied 20 March 2017
A trust which is not registered under sec 12A will be assessed as an AOP,
The expenses made for the objects of the trust will be allowable expenses. Surplus if any, will be taxable at the maximum marhginal rate of 30%
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