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9 a any rent 10 or revenue 10 derived 10 from land 10 which is situated in india and is used for agricultural purposes b any income derived from such land 10 by.
Definition of family under income tax act. 4 5 1a 6 agricultural income 7 means 8. Person section 2 31. The term person includes. A hindu undivided family huf.
India is the only country in the world where in the case of a male apart from assessing him on his income a separate entity is also being presumed belonging to him. 2 0 a unique form of reflection of such social system is recognition of hindu undivided family huf under the income tax act as a separate taxable entity. Individual means natural person you and me i e. Section 80dd 80ddb has simply given the identity of a person who could be regarded as dependent for a taxpayer by stating that dependent in case of an individual taxpayer means spouse children parents brothers sisters of the taxpayer.
Every artificial juridical person not falling within any of the preceding sub clauses. Definition of person u s 2 31 of the income tax act 1961. Foreign accrual tax applicable to any amount included under subsection 91 1 in computing a taxpayer s income for a taxation year of the taxpayer in respect of a particular foreign affiliate of the taxpayer means subject to subsection 91 4 1 a the portion of any income or profits tax that may reasonably be regarded as applicable to that amount and that is paid by. In this act unless the context otherwise requires 1 advance tax means the advance tax payable in accordance with the provisions of chapter xvii c 1a agricultural income means a any rent or revenue derived from land which is situated in india and is used for agricultural purposes b any income derived from such land by.
The concept of huf relates back to century old system of undivided family as described extensively in manusmruti. In case of a huf means a member of the huf. All human beings including minor and unsound mind. An association of persons or a body of individuals whether incorporated or not.
In this act unless the context otherwise requires 3 1 advance tax means the advance tax payable in accordance with the provisions of chapter xvii c.
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