Q: How many types of persons are there in Income tax act, 1961 ?

 Ans: A person is defined under section 2(31) of income tax act, 1931.

A person includes:

1.An individual

2. Hindu undivided family 

3. Company

4. Firm

5. An association of persons or body of individuals 

6. A local authority 

7. Every artificial judicial person not falling within any of the proceeding sub clauses

The individual can be the minor, major and senior citizen. The minor can also file income tax. The person whose age is less than 18 years will be the minor and the age of person whose age is more than 18 years and less than 60 years will be the major. The age of senior citizen will be more than 60 years.

The Hindu undivided family includes fathers, grandparents,  unmarried sisters and daughters.

The company is also included in person.It can be local company or foreign company.  It can be private sector company or it can be public sector company.

A firm could be the sole proprietary firm or it could be the partnership firm.

The partnership firm can be the unlimited liability firm and limited liability firm(LLP). In limited liability partnership firm, the partners have the limited loss whereas in unlimited liability partnership firm, the partners have the unlimited loss.

The association of persons is group of people.

The local authority is government like gram panchayat,  municipal corporation, public works department, etc.

The artificial judicial person are AJPs I.e hospitals,  colleges, temples, charity organizations,  etc. Anything that does not fall in any category falls in artificial judicial person.

All the persons are liable to pay taxes under income tax act, 1961.







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