Section 188, Income-tax Act, 1961 — Succession of one firm by another firm

Chapter XVI · Special Provisions Applicable to Firms

188Succession of one firm by another firm.

Section 188 · Chapter XVI · C.—Changes in constitution, succession and dissolution · page 703 of the Act

Where a firm carrying on a business or profession is succeeded by another firm, and the case is not one covered by section 187, separate assessments shall be made on the predecessor firm and the successor firm in accordance with the provisions of section 170.

Section 188 of The Income-tax Act, 1961 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.