Specified assessee definition distinguishes resident individuals and firms from excluded corporate, exempt fund, educational, medical and registered trust entities. Specified assessee under the Income-tax Act, 2025 means a resident individual or resident firm, excluding a limited liability partnership. Under the ... Summary
Specified assessee definition distinguishes resident individuals and firms from excluded corporate, exempt fund, educational, medical and registered trust entities.
Specified assessee under the Income-tax Act, 2025 means a resident individual or resident firm, excluding a limited liability partnership. Under the Income-tax Act, 1961, the term excludes domestic companies, identified exempt funds, institutions and trusts, universities and educational institutions, hospitals and medical institutions, and trusts or institutions registered under the listed registration provisions.
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