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of <h1>Tax Debts Take Priority Over Other Claims on Debtor's Property, Regardless of Conflicting Laws</h1> Any amount owed by a taxable person or any other person for tax, interest, or penalty to the Central or State Government will take precedence as the first charge on the property of the debtor. This provision applies regardless of any conflicting laws currently in effect, ensuring that tax liabilities are prioritized over other claims on the property.
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