Charge of tax in case of a firm

Income-tax Act, 2025

✍️ A plain-language summary of this section is being prepared. Below is the official text.

📜 Official text

324. 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 any Central Act for relevant tax year. Assessment as a firm.

Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.

Related sections

§ 302Legal representative § 303Representative assessee § 304Liability of representative assessee § 305Right of representative assessee to recover tax paid § 306Who may be regarded as agent § 307Charge of tax where share of beneficiaries unknown

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