Section 167A - Charge of tax in the case of a firm - Income-tax Act, 1961

1 [ DD.—Firms, association of persons and body of individuals ] 2 [ Charge of tax in the case of a firm. 167A. In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the 3 [rate as specified in the Finance Act of the relevant year].] -------------------------- Notes :- 1. Substituted for the existing sub-heading 'DD' by the Finance Act, 1992, w.e.f. 1-4-1993. Prior to substitution, sub-heading 'DD', as inserted by the Finance Act, 1981, w.e.f. 1-4-1981 and later amended by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 and the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989, read as under : " DD.—Association of persons and body of individuals " 2. Inserted by the Finance Act, 1992, w.e.f. 1-4-1993. Earlier section 167A was omitted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Prior to omission, section 167A was substituted by the Finance Act, 1985, w.e.f. 1-4-1985. 3. Substituted for "maximum marginal rate" by the Finance Act, 1997, w.e.f. 1-4-1998.