- Notwithstanding any contract to the contrary, where any firm is liable to pay any tax including penalty under this Act, the firm and each of the partners of the firm shall be jointly and severally liable for such payment:Provided that where any such partner retires from the firm, he shall intimate the date of his retirement to the Commissioner in writing and shall be liable to pay tax including penalty remaining unpaid at the time of his retirement and any tax including penalty due upto the date of his retirement though not assessed on that date:Provided further that if no such intimation is given within fifteen days from the date of retirement, the liability of the partners under the first provision shall continue until the date on which the intimation is received by the Commissioner.
