The document discusses key concepts related to income tax in India. It begins with an outline of topics to be covered, including the basic concepts of income tax. It then presents a key concept - that "all assesses are persons but all persons are not assesses." This concept is then explained, defining what an assess and person mean according to income tax law. Specifically, a person is defined in Section 2(31) as including seven types of entities - individuals, Hindu undivided families, companies, associations of persons, boards of directors, firms, and local authorities. So the definition that all assesses are persons but not all persons are assesses, as outlined at the beginning, is proven based on this explanation of how
4. Firstly you have to know about the
meanings of
Both definitions
ASSESSES?
PERSON ?
5. Meaning of person in income tax?
Acc to Section 2(31): it includes seven types of persons
A.Individual
B. a Hindu undivided family
C. A company
D. A association of persons and boards of directors.
E. A firm
F. A local authority
G. Every artificial judiciary person not failing any within
preceding sub-clause
