Maruti & Co. is an AOP consisting of 4 members with equal share. None of the member has income exceeding the taxable limit. The total income of the AOP is ₹ 5 lakhs. The income-tax liability of the AOP would be :
CS Executive · Tax Laws and Practice · PYQS · June 2017
Maruti & Co. is an AOP consisting of 4 members with equal share. None of the member has income exceeding the taxable limit. The total income of the AOP is ₹ 5 lakhs. The income-tax liability of the AOP would be :
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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