Liability of directors expanded to allow recovery of tax dues including fees when a company cannot discharge its tax obligations. The amendment to section 179 removes "in liquidation" from the marginal heading to reflect director liability beyond liquidation and amends the ... Summary
Liability of directors expanded to allow recovery of tax dues including fees when a company cannot discharge its tax obligations.
The amendment to section 179 removes "in liquidation" from the marginal heading to reflect director liability beyond liquidation and amends the Explanation to include fees alongside interest within the expression "tax due," thereby enabling recovery of tax dues (including fees and interest) from directors where the company cannot satisfy those liabilities.
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