Section-503: Service of notice when family is disrupted or firm, etc., is dissolved

Section-503 : Service of notice when family is disrupted or firm, etc., is dissolved

Section-503 seeks to provide for service of notice on partition of a Hindu undivided family or on dissolution of a firm. Learn to understand the section-503 as it is, it's help and useful links to follow.

Here onwards, "Act" refers to "Income Tax Act 2025"

1. Section-503 as per act

After a finding of total partition has been recorded by the Assessing Officer under section 315 for any Hindu family, notices under this Act in respect of the income of the Hindu family shall be served on the person, who was its last manager, or, if such person is dead, then on all adults who were members of the Hindu family immediately before the partition.
Where a firm or other association of persons is dissolved, notices under this Act for the income of such firm or association may be served on any person, who was a partner (not being a minor) or member of the association, immediately before its dissolution.