Specified assessee definitions distinguish resident individuals and firms from domestic companies, exempt institutions, and registered trusts. Specified assessee under the Income-Tax Act, 2025 is limited to an individual or firm resident in India, excluding limited liability partnerships. Under ... Summary
Specified assessee definitions distinguish resident individuals and firms from domestic companies, exempt institutions, and registered trusts.
Specified assessee under the Income-Tax Act, 2025 is limited to an individual or firm resident in India, excluding limited liability partnerships. Under the Income-Tax Act, 1961, the term excludes domestic companies, listed exempt funds, trusts and institutions, universities and other educational institutions, hospitals and other medical institutions, and registered trusts or institutions. These categories are excluded from specified assessee status.
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