§ 504
Chapter XXIII — Miscellaneous
Service of notice in case of discontinued business
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
504. Where an assessment is to be made under section 320, the Assessing Officer
may serve on the—
( a) person whose income is to be assessed; or
( b) person who was a member of a firm or association of persons at the time
of its discontinuance, in the case of a firm or an association of persons;
or
( c) principal officer, in the case of a company,
a notice containing all or any of the requirements which may be included in a notice
under section 268(1) and the provisions of this Act shall, so far as may be, apply
accordingly as if the notice were a notice issued under that section.
Submission of statement by a non-resident having liaison office.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 499Certain transfers to be void§ 500Provisional attachment to protect revenue in certain cases§ 501Director or Director. Service of notice, generally§ 502Authentication of notices and other documents§ 503Service of notice when family is disrupted or firm etc., is dissolved§ 505Submission of statement by a non-resident having liaison office