Ans: The main source of income for the government is tax collection. Under section 2(7) of the Income Tax Act, 1961 , an assessee is a person or company who is liable to pay taxes to the government under the provisions of this act. To assess means to evaluate. So, the assessee is a person who has been evaluated for his income as well as for other's person income, for which the assessee will be assessable for the profit and loss experienced by that person. According to the Income Tax Act, they are classified into the following categories: Normal assessee: A normal assessee is a person who will be responsible to pay taxes on his income generated in the fiscal year. Assessee representative: In the case of a non-resident, juvenile or lunatic person, an another person who will be responsible for paying taxes on income or losses will be the assessee representative. Deemed representative: Any person who is regarded to be an assessee and pay taxes on behalf of anot...
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