ITO Section 98A | Change in the constitution of an association of persons

Text of ITO Section 98A

Change in the constitution of an association of persons

Where, during the course of a tax year, a change occurs in the constitution of an association of persons, liability of filing the return on behalf of the association of persons for the tax year shall be on the association of persons as constituted at the time of filing of such return but the income of the association of persons shall be apportioned among the members who were entitled to receive it and, where the tax assessed on a member cannot be recovered from him it shall be recovered from the association of persons as constituted at the time of filing the return.

Explanation of ITO Section 98A

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