PERSON [Sec. 2(31)]
Definition :
“Person” includes –
1) An individual
2) A Hindu Undivided Family
3) A company
4) A firm (including a Limited Liability Partnership)
5) An association of persons or a body of individuals, whether incorporated or not. (E.g. Co-op Soc etc)
6) A local authority (Eg. Municipal Corporation, Gram Panchayat etc.) and
7) Every artificial juridical person, not falling within any of the preceding sub clauses. (E.g. Deities, idols etc)
 
Comments :
The income earned by every person is taxed. A “Person” is classified into different categories such as an individual, a firm, a company etc. The rules for computation of income and tax rates applicable for each of the above categories are different.
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