Income Tax Act 2025: Section 328 for Tax Year 2025-26

Income Tax Act 2025: Sec 328 states that on firm succession (except under Sec 327), separate assessments apply to predecessor & successor per Sec 313.

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Succession of one firm by another firm

[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]

Where a firm carrying on a business or profession is succeeded by another firm, except in a case covered by section 327, separate assessments shall be made on the predecessor firm and the successor firm as per the provisions of section 313.

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