Section 503 — Service of notice when family is disrupted or firm etc. is dissolved

Old Act equivalent: Section 283 of IT Act 1961 Sub-part: Chapter XXIII—Miscellaneous

Statutory Text

(1) After a finding of total partition has been recorded by the Assessing Officer under section 315 for any Hindu family, notices under this Act in respect of the income of the Hindu family shall be served on the person, who was its last manager, or, if such person is dead, then on all adults who were members of the Hindu family immediately before the partition. (2) Where a firm or other association of persons is dissolved, notices under this Act for the income of such firm or association may be served on any person, who was a partner (not being a minor) or member of the association, immediately before its dissolution. Service of notice in case of discontinued business.

None.

None.

None.

Applies to: HUFs that have disrupted, firms/AOPs/BOIs that have dissolved.
Conditions: Notice served on person who was manager/partner/member at time of disruption/dissolution.
Time limits: None.
Monetary limits: None.
Exceptions: None.