'Assessee' under Section 2(7) includes:
AOnly Indian residents
BOnly persons above basic exemption (per relevant Section)
CA person by whom any tax or sum is payable under the Act
DOnly persons filing returns
Answer & Solution
Correct answer: C. A person by whom any tax or sum is payable under the Act
1. Section 2(7) defines 'assessee' as a person by whom tax or any other sum is payable under the Income-tax Act.
2. Includes persons in respect of whom proceedings have been initiated for assessment.
3. Representative assessee under Section 160 and defaulter under Section 218 are also covered.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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