https://www.taxtmi.com/acts?id=48766 Liquidators (including receivers) must notify the Assessing Officer of their appointment; the Assessing Officer will notify, after inquiries, an amount sufficient to provide for current or prospective company tax, and the liquidator must set aside that amount and may not part with company assets without leave until so notified and secured. Exceptions permit payment of company tax, secured creditors with statutory priority, and reasonable winding-up costs as approved by the senior tax authority. Failure to notify, set aside, or to observe the restraint incurs personal liability limited to the notified amount; liabilities attach jointly and severally to multiple liquidators. en-us Fri, 14 Feb 2025 11:44:53 +0530 Thu, 20 Feb 2025 14:34:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48766 Liquidators (including receivers) must notify the Assessing Officer of their appointment; the Assessing Officer will notify, after inquiries, an amount sufficient to provide for current or prospective company tax, and the liquidator must set aside that amount and may not part with company assets without leave until so notified and secured. Exceptions permit payment of company tax, secured creditors with statutory priority, and reasonable winding-up costs as approved by the senior tax authority. Failure to notify, set aside, or to observe the restraint incurs personal liability limited to the notified amount; liabilities attach jointly and severally to multiple liquidators. Act-Rules Bills Fri, 14 Feb 2025 11:44:53 +0530 https://www.taxtmi.com/acts?id=48766