Question

Under which section of the Income Tax Act, 1961, is the term "person" defined?

Q: Answer-Under which section of the Income Tax Act, 1961, is the term 'person' defined?

The term person is defined under Section 231 of the Income Tax Act, 1961. This definition is crucial in determining the tax liabilities and responsibilities of various entities and individuals under the Act.

A Section 2(1)

B Section 2(31)

C Section 2(42A)

D Section 2(47)

Practice Next

More Accounts Questions

The primary role of a 'Cost Auditor' is to:
Which accounting treatment is appropriate for assets given on finance lease (lessee perspective) under Ind AS?
Investor A holds 42% of voting rights in TargetCo; the remaining shares are widely dispersed with no other holder above 3%. Investor A also has substantive...
As per Companies Act, 2013, it is mandatory to have a women director on the Board of a public company with paid up share capital of _____
Which key feature differentiates a swap from a forward contract?
In Zero-Based Budgeting (ZBB), the budget for each activity is:
Which of the following is an example of capital expenditure?
______ is a system that focuses on activities as the fundamental cost objects and uses the cost of these activities for compiling the costs of products an...
Determine a firm's total assets turnover, if its net profits margin is 8%, total assets are 8,00,000 and the return on investment is 14%
TechServe sells a perpetual software license bundled with significant customization and 2 years of PCS (post-contract support). Customization is complex an...

Hey! Ask a query

Under which section of the Income Tax Act, 1961, is the term "person" defined?

Detailed Solution

More Accounts Questions

Hey! Ask a query

Please Register/Login