AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015


35. Liability of manager of a company.

1.     Every person being a manager at any time during the financial year shall be jointly and severally liable for the payment of any amount due under this Act in respect of the company for the financial year, if the amount cannot be recovered from the company.

2.     The provisions of sub-section (1) shall not apply, if the manager proves that nonrecovery cannot be attributed to any neglect, misfeasance or breach of duty on his part in relation to the affairs of the company.

3.     The provisions of this section shall prevail over anything to the contrary contained in the Companies Act, 2013.

4.     In this section, “manager” shall include a managing director and both shall have the meaning respectively assigned to them in clause (53) and clause (54) of section 2 of the Companies Act, 2013.



Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys