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of <h1>Asset owner or firm member must pay tax on income included in another's return; joint holders jointly and severally liable</h1> When income from an asset or firm membership of one person is included in another's total income under the specified provisions, the person in whose name the asset stands or who is the firm member must, on service of a demand notice by the Assessing Officer, pay the portion of tax attributable to that included income; joint holders of an asset are jointly and severally liable for tax attributable to income from the asset; the procedures of the relevant recovery chapter apply as far as practicable.
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