Income Tax Slab for AOP & BOI [A.Y. 2019-20]

Income Tax Slab for Association of Persons (AOP) and Body of Individuals (BOI): In previous article, we have discussed about the income tax slab/income tax rates for individual for A.Y.2019-20. In this article we will discuss only about AOP and BOI income tax slab rates.

What is Association of Persons (AOP)?

First of all, you should know about what is Association of persons. It is also called AOP by its short name. AOP exists when two or more persons come together to do some business by aim of earning income jointly. The two persons can by anybody like individuals, company, association of BOI. It become automatically AOP when two or more person jointly works but do not form any firm.

Income Tax Slab AOP & BOI [A.Y.2019-20]

Income Income Tax
Income upto ₹ 2,50,000/-Nil
Income From ₹ 2,50,000/- to ₹ 5,00,000/-5% of (income – ₹  2,50,000) (Tax rebate u/s 87A: If income is upto ₹3,50,000/- [income tax or ₹ 2,500/- whichever is less]
Income from ₹5,00,000/- to 10,00,000/-₹ 12,500/- + 20% of (your income – ₹ 5,00,000)
Income over ₹ 10,00,000/- ₹ 112,500/- + 30% of (your income – ₹ 10,00,000)
Surcharge (Marginal Relief Applicable)@ 10% when total taxable income is over 50 lacs but less than 1 crore.
@ 15% if income is over 1 core
Health & Education Cess4% of (Income Tax + Surcharge)

 

8 thoughts on “Income Tax Slab for AOP & BOI [A.Y. 2019-20]”

  1. Sir I want to ask query that in case of return filling of Apartment Of Association for F.Y. 2015-16 which tax method have to be applied Normal method or MMR Method.
    when MMR Method have to apply for apartment ?
    please give detail informations in this regard…..

  2. if partners of AOP (Association of Persons) company paying tax on their income ( from that AOP company ) after companny ( seprate registered with NTN ) paid tax on its whole income , it is dual taxation or not ??? because partners liability is unlimited !!!

  3. Dear omprakash ji as per section 139 (1) if an individual is not having income less than basic exemption limit than such person is not required to file it’s return if income (y)

    Hope answer would suffice and fulfill your query.

  4. We are apartment owner association, we have audit completed for every year. However, we have not filed Income tax return. We have PAN card for our apartment. We have been under AOP as per the PAN card.
    (1)To file a return what documents need to be sent to I. Tax office to prove our status as ‘AOP’?
    (2) We file return for AY 2012 13 and 2013 14 in OCT 2013. We have claimed refund of @ Rs 8000/- but IT office sent us notice saying instead of refund tax liability of @ 80000 + penalty + interest. The notice treated our status as coperative instead of AOP and put us in 30% tax flat rate instead of standarad deduction of 1.8 laccs for AY 2012 13? The notice is not answered within 1 month by our CA and we are in fix. What is the solution and corrective action for establishing our stats as AOP?
    Thanks

  5. dear sir,
    pls suggest me i am file the I.T. RETURNS ON F.Y. 2003-2004. THAT TIME I EARNED INCOME FROM SALARIES.
    THAN AFTER I AM NOT FILING THE RETRUNS , IN BETWEEN I AM ONCE AGAIN SALARIESD PERSON FROM F.Y.2008 BUT NOT TAXABLE INCOME , SO
    MY QUESTION IS THAT IT IS COMPALSARY TO FILE THE RETURNS EVERY YEAR PLS. GUIDE ME THANKS

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