Define Person [Sec. 2(31)]

PERSON 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...

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Basic definitions in DIRECT INDIRECT TAX

SOME OF THE BASIC DEFINITIONS IN DIRECT INDIRECT TAX 1.  Person  2(31) Person includes : a) individual b) Company c) Hindu undivided family d) Body of individual e) Local authority f) Any other legal approved association 2.   Assessee 2(7) The person who are liable to pay tax are called...

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