TheTaxHeaven Dictionary - Know the meaning of tax


"Person" is defined in section 2(31) of the Income Tax Act. It includes seven categories- 

  • Individuals (e.g., salaried employees, sole proprietors, teachers)
  • Hindu Undivided Family (HUF)
  • Companies (e.g., Winiin Taxscope Private Limited, Infosys Ltd.)
  • Firms
  • Associations of persons (AOP) / Body of Individuals (BOI), even unregistered
  • Local Authorities (e.g., Jaipur Development Authority)
  • All Artificial Judicial Persons not listed above