https://www.taxtmi.com/acts?id=4012 A firm is assessed as a firm if the partnership is evidenced by an instrument and partner shares are specified; a certified copy of that instrument must accompany the firm's return when assessment as a firm is first sought, certified by all partners (not minors) or by former partners/legal representatives after dissolution. Continuity of assessment follows where there is no change in constitution or shares; changes require furnishing a certified revised instrument. Specific non-compliance by a firm triggers assessment rules that disallow deductions for payments to partners and alters their tax treatment under the Act. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 15:44:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4012 A firm is assessed as a firm if the partnership is evidenced by an instrument and partner shares are specified; a certified copy of that instrument must accompany the firm's return when assessment as a firm is first sought, certified by all partners (not minors) or by former partners/legal representatives after dissolution. Continuity of assessment follows where there is no change in constitution or shares; changes require furnishing a certified revised instrument. Specific non-compliance by a firm triggers assessment rules that disallow deductions for payments to partners and alters their tax treatment under the Act. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4012