Income Tax Act 2023
Section 187 - Assessment of Tax of any Firm or Association Of Persons
(as updated till Finance Act 2024)
In the case of assessment of tax of a firm or association of persons—
(a) the total income of the firm or association of persons shall be determined first and then tax shall be assessed on the basis of the total income; and
(b) thereafter the after-tax income shall be distributed proportionately among the partners or members.
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.