https://www.taxtmi.com/acts?id=26507 Directors of a private company are jointly and severally liable for tax, interest or penalty that cannot be recovered from the company; each director must prove the non-recovery cannot be attributed to gross neglect, misfeasance or breach of duty. If the private company is converted into a public company and recovery of amounts relating to the private period remains incomplete before conversion, the statutory joint liability does not apply to those directors, except that personal penalties on a director remain unaffected. en-us Sat, 17 Jun 2017 16:50:44 +0530 Thu, 22 Jun 2017 14:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26507 Directors of a private company are jointly and severally liable for tax, interest or penalty that cannot be recovered from the company; each director must prove the non-recovery cannot be attributed to gross neglect, misfeasance or breach of duty. If the private company is converted into a public company and recovery of amounts relating to the private period remains incomplete before conversion, the statutory joint liability does not apply to those directors, except that personal penalties on a director remain unaffected. Act-Rules GST - States Sat, 17 Jun 2017 16:50:44 +0530 https://www.taxtmi.com/acts?id=26507