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Mr Mukander Beniwal
On 1/25/19, 1:13 AM

Income-tax is to be paid by every person. The term 'person' as defined under the Income-tax Act under \section 2(3) covers in its ambit natural as well as artificial persons.

For the purpose of charging Income-tax, the term 'person' includes Individual, Hindu Undivided Families [HUFs], Association of Persons [AOPs], Body of individuals [BOIs], Firms, LLPs, Companies, Local authority and any artificial juridical person not covered under any of the above.

Thus, from the definition of the term 'person' it can be observed that, apart from a natural person,i.e., an individual, any sort of artificial entity will also be liable to pay Income-tax.​


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Asked: 1/25/19, 1:13 AM
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Last updated: 1/25/19, 1:13 AM