A) A Hindu Undivided Family
B) A Company
C) Body of Individuals
Income Tax Act Assessee Identification
Under the Indian Income Tax Act, an 'assessee' is a person by whom any tax or any other sum of money is payable under the Act.
The definition of 'person' in Section 2(31) of the Income Tax Act is comprehensive and includes:
- A Hindu Undivided Family (HUF)
- A Company
- A Body of Individuals (BOI)
Therefore, all three entities mentioned – Hindu Undivided Family, Company, and Body of Individuals – are considered assessees under the Income Tax Act as they are liable to pay taxes.
This corresponds to Option B, which includes A, B, and C.
Important Questions from Income-tax
The Income Tax Act, 1961 provides for rebates and reliefs under___________
The Income Tax Act classifies income of a person under _______ different heads of income.
- Tax rate for collecting income tax is fixed by _______.
For the purpose of computation of income tax, the period of twelve months commencing from the first day of April every year and ending on thirty first March of the next year is known as __________
In each assessment year income tax is charged at the rates given by __________
