Q 322. What is the liability of partners of a partnership firm (Taxable person) to pay outstanding tax?


Ans. Partners  of  any  firm  shall  jointly  and  severally liable for payment of any tax, interest or penalty. Firm/ partner shall intimate the retirement of any partner to the Commissioner by a notice in writing – liability to pay tax, interest or penalty up to the date of such retirement, whether determined on that date…

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