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What is the meaning of Person as per Income Tax Act, 1961

In the definition of the Assessee the term Person is highlighted and that is closely connected with the latter. As well the term is also very important in charging of Income Tax point of view in respect of every person. And this term is defined in Section 2(31) of Income Tax Act, 1961.

The list of persons, who are treated as Assessees are enumerated below.

  1. Individual
  2. Hundu Undivided Family (HUF)
  3. Company
  4. A Firm
  5. An AOP or a BOI, whether incorporated or not,
  6. Local Authority
  7. Every artificial juridical person e.g., idol or deity.
is the founder of AccountsGuy.Net with the view of providing Accounting and Technical support using Accounting package Tally ERP 9, and Office Tools to the people. I write articles on Accounts, Blogging, Computer Operating, and technical issues and some of my experiences on them for students, beginners. Follow our Networks or sing-up for the email newsletter below for your daily dose of Tips and Tricks.
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