[Section-167B] : Association Of Persons (AOP) And Body Of Individuals (BOI)
(A) Where the Individual Share Of The Members of an AQPs / BOIs are unknown—
tax shall be charged on the total income of the body at the maximum marginal rate of tax: Where the total income of any member of such association or body is chargeable to tax at a rate which is higher than the maximum marginal rate, tax shall be charged on the total income of the association or body at such higher rate.
(B) Where the Shares Of The Members Of An Association Of Persons Or Body Of Individuals Are Known:
(i) the total income of any member thereof for the previous year exceeds the maximum amount which is not chargeable to tax, tax shall be charged on the total income of the association or body at the maximum marginal rate;
(ii) any member or members thereof is or are chargeable to tax at a rate or rates which is or are higher than the maximum marginal rate, tax shall be charged on that portion or portions of the total income of the association or body which is or are relatable to the share of such member or members at such higher rate or rates, as the case may be, and the balance of the total income of the association or body shall be taxed at the maximum marginal rate.
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