Section 167 of Income Tax Act "Remedies against property in cases of representative assessees"
167. The Assessing Officer shall have the same remedies against all property of any kind vested in or under the control or management of any representative assessee as he would have against the property of any person liable to pay any tax, and in as full and ample a manner, whether the demand is raised against the representative assessee or against the beneficiary direct.
167A. In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the rate as specified in the Finance Act of the relevant year.
167B. (1) Where the individual shares of the members of
an association of persons or body of individuals (other than
a company or a co-operative society or a society registered
under the Societies Registration Act, 1860 (21 of 1860) or
under any law corresponding to that Act in force in any part
of India) in the whole or any part of the income of such
association or body are indeterminate or unknown, tax shall
be charged on the total income of the association or body at
the maximum marginal rate :
Provided that, where the total income of any member of such
association or body is chargeable to tax at a rate which is
higher than the maximum marginal rate, tax shall be charged
on the total income of the association or body at such
higher rate.
(2) Where, in the case of an association of persons or body
of individuals as aforesaid [not being a case falling under
sub-section (1)],-
(i) the total income of any member thereof for the previous
year (excluding his share from such association or body)
exceeds the maximum amount which is not chargeable to tax in
the case of that member under the Finance Act of the
relevant year, tax shall be charged on the total income of
the association or body at the maximum marginal rate;
(ii) any member or members thereof is or are chargeable to
tax at a rate or rates which is or are higher than the
maximum marginal rate, tax shall be charged on that portion
or portions of the total income of the association or body
which is or are relatable to the share or shares of such
member or members at such higher rate or rates, as the case
may be, and the balance of the total income of the
association or body shall be taxed at the maximum marginal
rate.
Explanation.-For the purposes of this section, the
individual shares of the members of an association of
persons or body of individuals in the whole or any part of
the income of such association or body shall be deemed to be
indeterminate or unknown if such shares (in relation to the
whole or any part of such income) are indeterminate or
unknown on the date of formation of such association or body
or at any time thereafter.