# partnership firm tax
1 posts in `partnership firm tax` tag
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From Business to Personal: The Reality of Unlimited Tax Liability
In terms of income tax, "unlimited liability" describes situations in which directors, partners, or other stakeholders might be held personally accountable for a company's outstanding tax debts. This blog explores the consequences, defenses, and preventive measures of Sections 167C, 179, and 188A of the Income Tax Act for partnership firms, private companies, and limited liability partnerships.
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By Krishna
