India - Income Tax Act 2010 - Saarc

1.733 CH. XVI - SPECIAL PROVISIONS - ASSESSMENT OF FIRMS S. 184CHAPTER XVISPECIAL PROVISIONS APPLICABLE TO FIRMSAssessment of registered firms.20[A.—Assessment of firms]182. 21 [Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]Assessment of unregistered firms.183. 22 [Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]23[Assessment as a firm.184. (1) A firm shall be assessed as a firm for the purposes of this Act, if—(i) the partnership is evidenced by an instrument 24 ; and(ii) the individual shares of the partners are specified 25 in that instrument 24 .(2) A certified copy of the instrument of partnership referred to in sub-section (1)shall accompany the return of income of the firm of the previous year relevantto the assessment year commencing on or after the 1st day of April, 1993 inrespect of which assessment as a firm is first sought.Explanation.—For the purposes of this sub-section, the copy of the instrument ofpartnership shall be certified in writing by all the partners (not being minors) or,where the return is made after the dissolution of the firm, by all persons (notbeing minors) who were partners in the firm immediately before its dissolutionand by the legal representative of any such partner who is deceased.(3) Where a firm is assessed as such for any assessment year, it shall be assessedin the same capacity for every subsequent year if there is no change in theconstitution of the firm or the shares of the partners as evidenced by theinstrument of partnership on the basis of which the assessment as a firm wasfirst sought.20. Reintroduced by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Earlier, itwas omitted by the Direct Tax Laws (Amendment) Act, 1987, with effect from the samedate.21. Prior to omission, section 182 was omitted by the Direct Tax Laws (Amendment) Act, 1987,w.e.f. 1-4-1989 and later reintroduced by the Direct Tax Laws (Amendment) Act, 1989,w.e.f. 1-4-1989.22. Prior to omission, section 183, as amended by the Taxation Laws (Amendment) Act, 1970,w.e.f. 1-4-1971 and the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 wasomitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 and laterreintroduced by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989.23. Substituted for sub-heading “B” and sections 184, 185 and 186 by the Finance Act, 1992,w.e.f. 1-4-1993. Prior to substitution, sub-heading “B” and sections 184, 185 and 186 wereamended by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, the Taxation Laws(Amendment) Act, 1975, w.e.f. 1-4-1976, the Taxation Laws (Amendment) Act, 1984, w.e.f.1-10-1984, the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988/1-4-1989, theDirect Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989 and the Direct Tax Laws (SecondAmendment) Act, 1989, w.e.f. 1-4-1989.24. For the meaning of term “instrument”, see Taxmann’s Direct Taxes Manual, Vol. 3.25. For the meaning of term “specified”, see Taxmann’s Direct Taxes Manual, Vol. 3.