https://www.taxtmi.com/circulars?id=4663 Registered firms must proactively retain, as security, a prescribed portion of each partner's share of firm income to meet the partner's tax liability; this duty exists prior to any assessment or notice and firms are liable for tax to the extent of amounts retained or that could have been retained if recovery from the partner fails. en-us Tue, 31 Jul 1979 00:00:00 +0530 Fri, 01 Aug 2008 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4663 Registered firms must proactively retain, as security, a prescribed portion of each partner's share of firm income to meet the partner's tax liability; this duty exists prior to any assessment or notice and firms are liable for tax to the extent of amounts retained or that could have been retained if recovery from the partner fails. Circulars Income Tax Tue, 31 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4663