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May 24, 2024 · An income tax assessee is a person who pays tax or any sum of money under the provisions of the Income Tax Act, 1961. Furthermore, Section 2 (7) of the act defines an income tax assessee as anyone who is required to pay taxes on any earned income or incurred loss in a single assessment year.
May 24, 2024 · Updated on: 24 May, 2024 11:47 AM. In Simple words, we can say that Assessee is a person who is liable to pay any tax or any sum of amount payable or have any obligation to pay tax as per the Section 2 (7) of the Income Tax Act,1961. Also, an assessee can be termed as each and every person for whom.
Who Is An Assessee? The term “Assessee” under the Income Tax Act of 1961 refers to any individual or entity that holds the legal liability of tax payment or any other financial commitments as specified by the Act.
Feb 25, 2020 · Assessee is a term used under the Income Tax Act, 1961 in India. It refers to a person or entity who is liable to pay tax under the provisions of the Act. The Act categorizes assesses based on the types of income they earn, and the rates and procedures for determining and collecting taxes from them.
Apr 1, 2022 · According to the above definition, an “assessee” is someone who is liable for tax under the Income Tax Act. However, to fully grasp the meaning of “assessee,” it is important to also be familiar with the following: A. Normal Assessee
ASSESSEE definition: 1. a person or group that is being assessed (= judged), especially in order to decide how much tax…. Learn more.
Home. Income Tax Assessee under the Income Tax act. Any kind of income earned, or any losses incurred by an individual who is liable for paying taxes to the government for the particular assessment year is known as Income Tax assessees under Income Tax Act 1961, Section 2 (7).
