SECTION |
INCOME |
RATE OF INCOME TAX
A.Y. 2018-2019 & 2019-2020 |
|
161(1A) |
On Income from business when assessee is a trust as per terms of the section. |
30% |
164 |
On Income of private discretionary trust where shares of beneficiary are not known. |
30% |
164A |
Income of Oral trusts. |
30% |
167A |
Income of a firm |
30% |
167B(1) |
On Income of A.O.P. or B.O.l. where shares of members are not known. (Provided if income of any member is chargeable at a higher rate than the higher rate shall be applicable). |
30% |
167B(2)(i) |
On Income of A.O.P. or B.O.I. not covered u/s 167B(1) while other income of any member exceeds the thresh hold limit. (See Note) |
30% |
167B(2)(ii) |
On Income of A.O.P. or B.O.l. where income of a member is chargeable at a rate higher than the maximum chargeable rate then on that portion of income of the A.O.P. or B.O.I.that relate to such person the tax shall be calculated on such higher rate and on balance of total income. - (See Note) |
30% |
