Single assessment for unincorporated bodies ensures one annual tax assessment despite membership or share changes, excluding death or full retirement. The Assessing Officer must make a single assessment for the entire financial year when an unincorporated body's constitution changes due to participants ceasing, new participants being admitted, or changes in participants' shares; this single-assessment mechanism is inapplicable where the change results from a participant's death or from the retirement of all participants.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Single assessment for unincorporated bodies ensures one annual tax assessment despite membership or share changes, excluding death or full retirement.
The Assessing Officer must make a single assessment for the entire financial year when an unincorporated body's constitution changes due to participants ceasing, new participants being admitted, or changes in participants' shares; this single-assessment mechanism is inapplicable where the change results from a participant's death or from the retirement of all participants.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
