What is the meaning of Person as per Income Tax Act, 1961

In the definition of the Assessee the term Person is highlighted and that is closely connected with the latter. As well the term is also very important in charging of Income Tax point of view in respect of every person. And this term is defined in Section 2(31) of Income Tax Act, 1961.

The list of persons, who are treated as Assessees are enumerated below.

1. Individual
2. Hundu Undivided Family (HUF)
3. Company
4. A Firm
5. An AOP or a BOI, whether incorporated or not,
6. Local Authority
7. Every artificial juridical person e.g., idol or deity.