https://www.taxtmi.com/acts?id=17198 The amendment clarifies that the expression "tax due" for purposes of directors' liability in respect of an unrecoverable liability of a private company includes penalty, interest and any other sum payable under the Income-tax Act, without altering the pre-existing joint and several liability framework or the directors' burden to prove absence of gross neglect, misfeasance or breach of duty. en-us Fri, 01 Mar 2013 18:11:00 +0530 Sat, 02 Mar 2013 11:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17198 The amendment clarifies that the expression "tax due" for purposes of directors' liability in respect of an unrecoverable liability of a private company includes penalty, interest and any other sum payable under the Income-tax Act, without altering the pre-existing joint and several liability framework or the directors' burden to prove absence of gross neglect, misfeasance or breach of duty. Act-Rules Bills Fri, 01 Mar 2013 18:11:00 +0530 https://www.taxtmi.com/acts?id=17198