Joint and several liability: partners remain liable for firm tax obligations until retirement intimation is received. Where a firm is liable to pay tax, interest or penalty under the Act, the firm and each partner are joint and several liable for such payment. A retiring partner remains liable for tax, interest or penalty up to the date of retirement and the firm or the partner must intimate the retirement in writing to the Commissioner; until such intimation is received the retiring partner's liability continues.
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: partners remain liable for firm tax obligations until retirement intimation is received.
Where a firm is liable to pay tax, interest or penalty under the Act, the firm and each partner are joint and several liable for such payment. A retiring partner remains liable for tax, interest or penalty up to the date of retirement and the firm or the partner must intimate the retirement in writing to the Commissioner; until such intimation is received the retiring partner's liability continues.
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