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CA 466 Section 97

Discharge of executor or administrator from personal liability.

Section 97

SEC. 97. Discharge of executor or administrator from personal liability. — If the executor or administrator makes written application to the Collector of Internal Revenue for determination of the amount of the estate tax and discharge from personal liability therefor, the Collector of Internal Revenue, as soon as possible, and in any event within one year after the making of such application, or, if the application is made before the return is filed, then within one year after the return is filed, but not after the expiration of the period prescribed for the assessment of the tax in section 331, shall notify the executor or administrator of the amount of the tax. The executor or administrator, upon payment of the amount of which he is notified, shall be discharged from personal liability for any deficiency in the tax thereafter found to be due and shall be entitled to a receipt or writing showing such discharge.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER I - Estate and Inheritance Taxes →

Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).

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