Partner liability for tax: joint and several responsibility of a firm and its partners, with continuing post-retirement exposure unless notified.

When a firm is liable to pay tax, interest or penalty under the Act, the firm and each partner are jointly and severally liable. A retiring partner or the firm must give written intimation of the retirement date to the Commissioner; the retiring partner remains liable for obligations up to that date whether determined or not, and if no intimation is given within one month the partner's liability continues until receipt of the intimation.

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