Section 329 — Joint and several liability of partners for tax payable by firm

Old Act equivalent: Section 44AE of IT Act 1961 Sub-part: Profits and Gains of Business or Profession — Computation Rules

Statutory Text

Every person who was, during the tax year, a partner of a firm, and the legal
representative of any such person who is deceased, shall be jointly and severally liable along with the firm for the amount of tax, penalty or other sum payable by the firm for the tax year, and all the provisions of this Act, so far as may be, shall apply to the assessment of such tax or imposition or levy of such penalty or other sum. Firm dissolved or business discontinued.

None.

None.

None.

To be updated.