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What are Remedies against property in cases of representative assessees? What is Charge of tax in the case of a firm? What is Charge of tax where shares of members in association of persons or body of individuals unknown? Section 167, 167A and 167B of Income Tax Act 1961

Remedies against property in cases of representative assessees, Charge of tax in the case of a firm and Charge of tax where shares of members in association of persons or body of individuals unknown are defined under section 167, 167A and 167B of Income Tax Act 1961. Provisions under these Sections are :

Section 167 of Income Tax Act "Remedies against property in cases of representative assessees"

Section 167. The Assessing Officer shall have the same remedies against all property of any kind vested in or under the control or management of any representative assessee as he would have against the property of any person liable to pay any tax, and in as full and ample a manner, whether the demand is raised against the representative assessee or against the beneficiary direct.

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

Section 167A. In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the rate as specified in the Finance Act of the relevant year.

 

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

Section 167B. (1) Where the individual shares of the members of an association of persons or body of individuals (other than a company or a co-operative society or a society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India) in the whole or any part of the income of such association or body are indeterminate or unknown, tax shall be charged on the total income of the association or body at the maximum marginal rate :

Provided that, where the total income of any member of such association or body is chargeable to tax at a rate which is higher than the maximum marginal rate, tax shall be charged on the total income of the association or body at such higher rate.

(2) Where, in the case of an association of persons or body of individuals as aforesaid [not being a case falling under sub-section (1)],-

(i) the total income of any member thereof for the previous year (excluding his share from such association or body) exceeds the maximum amount which is not chargeable to tax in the case of that member under the Finance Act of the relevant year, tax shall be charged on the total income of the association or body at the maximum marginal rate;

(ii) any member or members thereof is or are chargeable to tax at a rate or rates which is or are higher than the maximum marginal rate, tax shall be charged on that portion or portions of the total income of the association or body which is or are relatable to the share or shares of such member or members at such higher rate or rates, as the case may be, and the balance of the total income of the association or body shall be taxed at the maximum marginal rate.

Explanation.-For the purposes of this section, the individual shares of the members of an association of persons or body of individuals in the whole or any part of the income of such association or body shall be deemed to be indeterminate or unknown if such shares (in relation to the whole or any part of such income) are indeterminate or unknown on the date of formation of such association or body or at any time thereafter.

   
 

Income Tax Act 1961

What is Liability of representative assessee? What is the Right of representative assessee to recover tax paid Section 161 and 162 of Income Tax Act 1961

Who may be regarded as agent? What is Charge of tax where share of beneficiaries unknown? Section 163 and 164 of Income Tax Act 1961

What is Charge of tax in case of oral trust? What is the case where part of trust income is chargeable? What is Direct assessment or recovery not barred? Section 164a, 165 and 166 of Income Tax Act 1961

What are Remedies against property in cases of representative assessees? What is Charge of tax in the case of a firm? What is Charge of tax where shares of members in association of persons or body of individuals unknown? Section 167, 167A and 167B of Income Tax Act 1961

What are Liability of partners of limited liability partnership in liquidation? Who are Executors? Section 167C and 168 of Income Tax Act 1961

What is Right of executor to recover tax paid? What is Succession to business otherwise than on death? Section 169 and 170 of Income Tax Act 1961

What is Assessment after partition of a Hindu undivided family? What is Shipping business of non-residents? Section 171 and 172 of Income Tax Act 1961

What is Recovery of tax in respect of non-resident from his assets? What is Assessment of persons leaving India? Section 173 and 174 of Income Tax Act 1961

What is Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose? What is Assessment of persons likely to transfer property to avoid tax? Section 174A and 175 of Income Tax Act 1961

What is Discontinued business? What is Association dissolved or business discontinued? Section 176 and 177 of Income Tax Act 1961

What is Company in liquidation? What is Liability of directors of private company in liquidation? What is Royalties or copyright fees for literary or artistic work? Section 178, 179 and 180 of Income Tax Act 1961

 

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