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of <h1>Amendment to Section 179 of Income-tax Act: Directors' Liability for Tax Dues Expanded to All Private Companies</h1> Clause 55 of the Finance Bill, 2022 amends section 179 of the Income-tax Act, which addresses the liability of directors for tax dues of private companies. The amendment removes the words 'in liquidation' from the marginal heading, clarifying that the section applies to all private companies, not just those in liquidation. Additionally, the term 'fees' is added to the definition of 'tax due' in the section's Explanation. These changes, effective from April 1, 2022, aim to broaden the scope of directors' liability for unrecovered tax dues from private companies.
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