https://www.taxtmi.com/acts?id=24067 Director liability applies where tax, interest or penalty due from a private company cannot be recovered for a relevant period, making every director during that period jointly and severally liable unless he proves the non-recovery was not due to his gross neglect, misfeasance or breach of duty. The rule operates notwithstanding the Companies Act, 2013. On conversion of a private company into a public company, this liability does not apply for unrecovered dues relating to the private period, except for any personal penalty imposed on the director. en-us Mon, 27 Mar 2017 17:31:06 +0530 Thu, 25 Jun 2026 18:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24067 Director liability applies where tax, interest or penalty due from a private company cannot be recovered for a relevant period, making every director during that period jointly and severally liable unless he proves the non-recovery was not due to his gross neglect, misfeasance or breach of duty. The rule operates notwithstanding the Companies Act, 2013. On conversion of a private company into a public company, this liability does not apply for unrecovered dues relating to the private period, except for any personal penalty imposed on the director. Act-Rules GST Mon, 27 Mar 2017 17:31:06 +0530 https://www.taxtmi.com/acts?id=24067