Tax shall be charged on the total income of the AOP at the maximum marginal rate under the provisions of section 167B of Income Tax Act, 1961:

CS Executive · Tax Laws and Practice · PYQS · December 2018
Tax shall be charged on the total income of the AOP at the maximum marginal rate under the provisions of section 167B of Income Tax Act, 1961:
(A) where individual shares of the members of an association or body are indeterminable or unknown in relation to the whole of income
(B) where members share equally
(C) where the individual shares of the members of an associate or body are indeterminable or unknown relating to any part of income
(D) Both (A) and (C)

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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