Who is assesse as per Income Tax Act?
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Who is assesse as per Income Tax Act?
An assessee is a person who is liable to pay any tax or any sum of the amount payable or has any obligation to pay tax as per Section 2(7) of the Income Tax Act,1961. It includes: In simple words, if you have any liability to pay income tax, then you are an assessee. Following are the types of the aRead more
An assessee is a person who is liable to pay any tax or any sum of the amount payable or has any obligation to pay tax as per Section 2(7) of the Income Tax Act,1961.
It includes:
In simple words, if you have any liability to pay income tax, then you are an assessee.
Following are the types of the assessee:
- Normal Assess: An individual who pays tax for the total income earned during a financial year.
- Representative Assess: A person who is responsible to pay tax for the total income/loss caused by a third party.
- Deemed Assess: A representative of legal authorities. Like Accounts officer of Electricity office
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