Insertion of new section 167C
Section 59 of the Finance Act, 2009 deals with insertion of new section 167C. Insertion of new section 167C. 59. After section 167B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2010, namely:— "167C.
Insertion of new section 167C.
59. After section 167B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2010, namely:—
"167C. Liability of partners of limited liability partnership in liquidation.—Notwithstanding anything contained in the Limited Liability Partnership Act, 2008 (6 of 2009), where any tax due from a limited liability partnership in respect of any income of any previous year or from any other person in respect of any income of any previous year during which such other person was a limited liability partnership cannot be recovered, in such case, every person who was a partner of the limited liability partnership at any time during the relevant previous year, shall be jointly and severally liable for the payment of such tax unless he proves that the non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the limited liability partnership.".
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Section 59, The Finance Act, 2009.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 59
What does Section 59 of the Finance Act deal with?
Section 59 of the Finance Act is headed "Insertion of new section 167C". Insertion of new section 167C. 59. After section 167B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2010, namely:— "167C.
How do I find court cases under Section 59 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2009 59, section 59 Finance Act 2009, section 59 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 59 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 167B (Charge of tax where shares of members in association of persons or body of individuals unknown, etc), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2009. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
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- 2. Income-tax2915 words
- 13. Insertion of new section 35AD1148 words
- 61. Substitution of new section for section 194C936 words
- 37. Amendment of section 80-IB761 words
- 56. Insertion of new section 144C751 words
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