167A Income Tax Act - Charge of tax in the case of a firm

Section 167a of Income Tax Act 1961 - Charge of tax in the case of a firm

1In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the 2 rate as specified in the Finance Act of the relevant year.

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1. Subs. by Act 18 of 1992, s. 64, for the sub-heading "DD. -Association of persons and body of individuals" (w.e.f. 1-4- 1993).

2. Subs. by Act 26 of 1997, s. 44, for "maximum marginal rate" (w.e.f. 1-4-1998).

Income Tax Act 1961

Section 161 Liability of representative assessee

Section 162 Right of representative assessee to recover tax paid

Section 163 Who may be regarded as agent

Section 164 Charge of tax where share of beneficiaries unknown

Section 164A Charge of tax in case of oral trust

Section 165 Case where part of trust income is chargeable

Section 166 Direct assessment or recovery not barred

Section 167 Remedies against property in cases of representative assessees

Section 167A Charge of tax in the case of a firm

Section 167B Charge of tax where shares of members in association of persons or body of individuals unknown, etc

Section 167C Liability of partners of limited liability partnership in liquidation

Section 168 Executors

Section 169 Right of executor to recover tax paid

Section 170 Succession to business otherwise than on death