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Sunday, 16 April 2017

Meaning of Person under section 2(31) as per Income Tax

The Definition of "Person" is covered under section 2(31) of Income Tax Act 1961.
Person includes-
  • Individual,
  • Hindu Undivided Family (HUF),
  • Company,
  • Association of Person (AOP) / Body of Individual (BOI) whether incorporated or not, 
  • Firm,
  • Local Authority,
  • Every Artificial Juridical Person.
The levy of Income Tax is on every "Person".



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