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Assessee: Assessee Meaning, Types

Who Is An Assessee?

The term “Assessee” under the Income Tax Act of 1961 refers to any individual or entity that holds the legal liability of tax payment or any other financial commitments as specified by the Act. This includes not only the primary taxpayer but also any entity that is required to settle its liabilities based on the income earned or losses incurred within a specified assessment year.

The various situations when you will be termed as an “Assessee” by the Income Tax Department are -

  • You have tax, interest, or penalty payable to the IT department.

  • Any proceeding have been done or initiated by the department against your income or refund or loss or in respect of any person for whom you are assessable.

  • You are a deemed assessee under IT Act.

  • You are at default under any of the sections of the IT Act. For instance, you have not deposited TDS deducted from any person with the government.

  • You are entitled to a tax refund, if any.

 

Types of Assessee:

Different types of assessees, as per the Income Tax Act 1961, are:-

  • Individual - Ayush, Tarun

  • Partnership Firm - M/s ABC and Company, M/s ABC and associates, ABC LLP

  • A Hindu Undivided Family - Mr. A (HUF) or Mr. B (HUF).

  • Company - Winiin Taxscope Private Ltd., Winiin Taxscope Ltd.

  • An Association of persons or a body of Individuals - ABC Sangh or XYZ Dal

  • A Local Authority - JDA or PCMC Municipal Corporation.

  • An artificial Juridical person is not covered under any of the above categories. (Residual Category)