https://www.taxtmi.com/manuals?id=1183 Liability in respect of clubbed income attaches to the person in whose hands the income is included, even where the income belongs to another person as the real owner of the asset or firm interest. Under the new section 100, the transferee becomes liable, after service of a notice of demand by the Assessing Officer, to pay the portion of tax attributable to the clubbed income. Where the asset is jointly held, all co-owners are jointly and severally liable, and the recovery machinery under Chapter XIX-D applies. en-us Tue, 15 Sep 2015 12:36:00 +0530 Thu, 25 Jun 2026 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1183 Liability in respect of clubbed income attaches to the person in whose hands the income is included, even where the income belongs to another person as the real owner of the asset or firm interest. Under the new section 100, the transferee becomes liable, after service of a notice of demand by the Assessing Officer, to pay the portion of tax attributable to the clubbed income. Where the asset is jointly held, all co-owners are jointly and severally liable, and the recovery machinery under Chapter XIX-D applies. Manuals Income Tax Tue, 15 Sep 2015 12:36:00 +0530 https://www.taxtmi.com/manuals?id=1183