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:
A. ₹ 12,880
B. ₹ 77,250
C. ₹ 13,000
D. ₹20,600
Answer:C
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:
A. ₹ 12,880 B. ₹ 77,250 C. ₹ 13,000 D. ₹20,600