Amendment status not verified — confirm the current text below against the official source.
In the principal Act, after section 11, the following sections shall be inserted, namely:- "11-A. Notwithstanding anything contained in any provision of this Act, the State Government, if satisfied that it is necessary or expedient so to do in public interest, may, for greater transparency, in order to ensure compliance, notify any scheme for settlement of unpaid tax, interest and/or penalty. 11-B. (1) Where a person, liable to pay tax under this Act, dies then,— (a) if the business carried on by that person is continued after his death by his legal representative or any other person, such legal representative or other person shall be liable to pay tax including any penalty, sum forfeited and interest due from such person under this Act, in the like manner and to the same extent as the deceased person would have been; and (b) if the business carried on by the person is discontinued whether before or after his death, his legal representative shall be liable to pay out of the estate Amendment in section 6 of Punjab Act 11 of 2018 Amendment in section 10 of Punjab Act 11 of 2018 Insertion of new section in Punjab Act 11 of 2018 Power to waive unpaid tax, interest and penalty in case of any discrepancy in the discharge of the tax liabilities. Liability to pay tax in case of death 270 PUNJAB GOVT. GAZ.(EXTRA), AUGUST 9, 2025 (SRVN 18 , 1947 SAKA) 271 of the deceased, in the like manner and to the same extent as the deceased person would have been liable to pay, if he had not died, the tax including any penalty, sum forfeited and interest due from such person under this Act, whether such tax including any penalty, sum forfeited and interest has been assessed before his death, but has remained unpaid, or is assessed after his death. (2) Where a person, liable to pay tax under this Act, is a Hindu Undivided Family and the joint family property is apportioned amongst the various members or group of members, then each member or group of members shall be jointly and severally liable to pay the tax including any penalty, sum forfeited and interest due from the person under this Act, up to the time of the partition, whether such tax including any penalty, sum forfeited and interest has been assessed before partition, but has remained unpaid, or assessed after partition. (3) Where a person liable to pay tax under this Act, is a firm, and the firm is dissolved, then every person who was a partner, shall be jointly and severally liable to pay to the extent to which he is liable under this section, the liability to pay tax under this Act, up to the time of dissolution, whether such tax including any penalty, sum forfeited and interest has been assessed before such dissolution, but has remained unpaid or is assessed after dissolution. (4) Where a person, liable to pay tax under this Act, transfers or otherwise disposes of his business in whole or in part, or effects any change in the ownership thereof, in consequence of which he is succeeded in the business or part thereof by any other person, then both persons shall jointly and severally be liable to pay the tax including any penalty, sum forfeited and interest due from the person under this Act, up to the time of such transfer, disposal or change, whether such tax including any penalty, sum forfeited and interest has been assessed before such transfer, disposal or change, but has remained unpaid or is assessed thereafter. (5) Where the person, liable to pay tax under this Act,— (a) is the guardian of a ward on whose behalf the business is carried out by the guardian; or (b) is trustee, who carries on the business under a trust for the beneficiary, then,— if the guardianship or the trust is terminated, the ward or, as the case may be, the beneficiary, shall be liable to pay the tax including any penalty, sum forfeited and interest due from the person up to the time of 271 PUNJAB GOVT. GAZ.(EXTRA), AUGUST 9, 2025 (SRVN 18 , 1947 SAKA) 272 the termination of the guardianship or trust, whether such tax including any penalty, sum forfeited and interest has been assessed before the termination of the guardianship or trust, but has remained unpaid, or is assessed thereafter. (6) Where a person is liable to pay tax under this Act, is succeeded in the business by any person in the manner described in clause (a) of sub- section (1) or in sub-section (4), then such a person shall be liable to pay tax on the income, made by him on and after the date of such succession and shall, unless he already holds a registration, apply for registration within a period of thirty days from the date of such succession. 11-C. (1) When two or more companies are to be amalgamated by the amalgamation order of a Court or of the Central Government and the order is to take effect from a date earlier to the date of the order, the said two or more companies shall be treated as distinct companies and shall be treated as such for all periods up to the date of the said order and the registration of the said companies under this Act shall be cancelled with effect from the date of the said order. The liability to pay tax in such case shall be of the new entity after the amalgamation. (2) The words and expressions used in this section, but not defined, shall have the respective meanings, assigned to them in the Companies Act, 2013 (Central Act No. 18 of 2013). 11-D. Every person,- (a) who is a liquidator of any company, firm or society, which is being wound up whether under the orders of a Court or otherwise; or (b) who has been appointed as receiver of any assets of a company (hereinafter referred to as the "liquidator"), shall within thirty days after he has become such a liquidator, give notice of his appointment as such to the Commissioner or the designated officer. (2) The Commissioner or the designated officer shall, after making such inquiries or calling for such information, as he may deem fit, notify the liquidator within three months from the date on which he received notice of appointment of the liquidator, the amount which in the opinion of the Commissioner or the designated officer, would be sufficient to provide for any tax, interest or penalty, which is then, or is likely thereafter, to become payable by the company. Liability in case of amalgamation of companies. Liability in case of liquidation. 272 PUNJAB GOVT. GAZ.(EXTRA), AUGUST 9, 2025 (SRVN 18 , 1947 SAKA) 273 (3) Not with standing anything contained in the Companies Act, 2013, when any private company is wound up and any tax, interest or penalty assessed under this Act on the company for any period, whether before or in the course of or after its liquidation, cannot be recovered, then every person, who was a director of the private company at any time during the period for which the tax is due, shall be jointly and severally liable for the payment of such tax, interest or penalty, unless such person proves to the satisfaction of the Commissioner or the designated officer that non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the company. Explanation: For the purpose of this section, the expression 'private company' shall have the meaning assigned to it under section 2 of the Companies Act, 2013 (Central Act No. 18 of 2013)."