Legal Question in Business Law in India
If a partnership company sells an property which is company asset the tax liability is to be paid by all partners according to their holding in the company. If one of the partner refuses to pay his part of th tax ,what happens then? Can the other partners still pay their share of tax and avoid any penalty . What happens in such a situation .
Asked on 4/13/13, 7:08 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
13.04.2013
Dear Sir / Madam,
The firm has to bear the tax liability and not individual partners.
Regards,
Answered on 4/13/13, 7:51 am
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