§ 324
Chapter XVII — Special Provisions Relating To Certain Persons
Charge of tax in case of a firm
Income-tax Act, 2025
When a partnership firm is assessed as a firm, income tax is levied on its entire income. The tax rate applied is the one prescribed in the relevant Central Act for that financial year.
📜 Official text of the section +
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.