Joint and several liability of partners persists for outstanding tax unless retirement notice is given Partners are jointly and severally liable for payment of any tax, interest or penalty of the firm. A retiring partner must give written intimation to the Commissioner; liability for amounts up to the date of retirement remains on the retiring partner, and if no intimation is given within one month, that liability continues until the Commissioner receives notice.
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.
Joint and several liability of partners persists for outstanding tax unless retirement notice is given
Partners are jointly and severally liable for payment of any tax, interest or penalty of the firm. A retiring partner must give written intimation to the Commissioner; liability for amounts up to the date of retirement remains on the retiring partner, and if no intimation is given within one month, that liability continues until the Commissioner receives notice.
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