Section 5 in The Maharashtra Tax on Luxuries Act, 1987
5. Liability of firms [* * *] [The words 'textile trader' and 'tobacconist' were deleted and deemed to have been deleted w.e.f. 20-1-2005 by Maharashtra 32 of 2006, Section 14(b).].
- Where a [business] [This word was substituted for the word 'hotel' by Maharashtra 17 of 1993. Section 18(1).] is owned, managed or run by a firm, then the firm and each of the partners of the firm shall be jointly and severally liable for payment of tax:Provided that, where any partner retires from the firm, he shall be liable to pay the tax, penalty and the interest, if any, remaining unpaid at the time of his retirement and any tax due up to the date of his retirement, even if assessment of tax or levy of penalty and interest (if any) is made at a later date.
