UNIT 1 INCOME TAX DEFINITIONS PERSON ASSESSEE | Dr.Shobha Edward | Corporate Secretaryship

Описание: The video by Dr. Shobha Edward defines two key terms in Income Tax: 'Person' and 'Assessee.'

'Person' includes a wide range of entities such as an Individual, HUF, Company, Firm, Body of Persons (BOP), and Association of Persons (AOP).

An 'Assessee' is any person liable to pay tax or other sums under the Act. The lecture details three types:

Ordinary Assessee: The person themselves, for their own income.

Representative/Deemed Assessee: A person who pays tax on behalf of another (e.g., a legal representative for a minor or a deceased person).

Assessee in Default: A person who fails to fulfill a statutory duty, such as not deducting tax at source.