India - Income Tax Act 2010 - Saarc

S. 167C I.T. ACT, 1961 1.72061[Charge of tax where shares of members in association of persons or body ofindividuals unknown, etc.62167B. (1) Where the individual shares of the members of an association ofpersons or body of individuals (other than a company or a co-operativesociety or a society registered under the Societies Registration Act, 1860 (21 of1860) 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 areindeterminate or unknown, tax shall be charged on the total income of theassociation or body at the maximum marginal rate :Provided that, where the total income of any member of such association or bodyis chargeable to tax at a rate which is higher than the maximum marginalrate, tax shall be charged on the total income of the association or body at suchhigher rate.(2) Where, in the case of an association of persons or body of individuals asaforesaid [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 themaximum amount which is not chargeable to tax in the case of thatmember under the Finance Act of the relevant year, tax shall becharged on the total income of the association or body at themaximum marginal rate;(ii) any member or members thereof is or are chargeable to tax at a rateor rates which is or are higher than the maximum marginal rate, taxshall be charged on that portion or portions of the total income of theassociation or body which is or are relatable to the share or shares ofsuch member or members at such higher rate or rates, as the casemay be, and the balance of the total income of the association or bodyshall be taxed at the maximum marginal rate.Explanation.—For the purposes of this section, the individual shares of themembers of an association of persons or body of individuals in the whole or anypart of the income of such association or body shall be deemed to be indeterminateor unknown if such shares (in relation to the whole or any part of suchincome) are indeterminate or unknown on the date of formation of suchassociation or body or at any time thereafter.]63[Liability of partners of limited liability partnership in liquidation.167C. Notwithstanding anything contained in the Limited Liability PartnershipAct, 2008 (6 of 2009), where any tax due from a limited liability partnershipin respect of any income of any previous year or from any other person in respectof any income of any previous year during which such other person was a limited61. Inserted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989.62. See also Circular No. 577, dated 4-9-1990. For details, see Taxmann’s Master Guide toIncome-tax Act.63. Inserted by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010.