Specified Person definition narrows withholding and tax obligations by distinguishing institutional entities and high turnover individuals for applicability. The term Specified Person is defined differently across Income Tax Act provisions to determine applicability of withholding, attribution, and special tax rules: under section 9B it covers partners or members (non company/co operative) of firms/AOPs; under section 194C it lists governments, authorities, corporations, companies, societies, trusts, universities, foreign entities, firms, and individuals/HUFs exceeding turnover/receipt thresholds; under section 194S it identifies individuals/HUFs below turnover thresholds or without business income for virtual digital asset transfers; and under section 115TD it includes specified charitable, educational, medical institutions and registered trusts/institutions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Specified Person definition narrows withholding and tax obligations by distinguishing institutional entities and high turnover individuals for applicability.
The term Specified Person is defined differently across Income Tax Act provisions to determine applicability of withholding, attribution, and special tax rules: under section 9B it covers partners or members (non company/co operative) of firms/AOPs; under section 194C it lists governments, authorities, corporations, companies, societies, trusts, universities, foreign entities, firms, and individuals/HUFs exceeding turnover/receipt thresholds; under section 194S it identifies individuals/HUFs below turnover thresholds or without business income for virtual digital asset transfers; and under section 115TD it includes specified charitable, educational, medical institutions and registered trusts/institutions.
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