what is deemed assesse?
Assessee means a person who is being assessed for the purpose of determining tax liability etc.
Deemed Assessee is a person who is deemed to be an assessee as per IT law and rules and who is now liable to file the tax return.
Assessee
Income Tax Act 1961 (Act no. 43) defines 'assessee' as a person by whom any tax or any other sum of money is payable under this Act, and includes -
• Every person in respect of whom any proceeding under this Act has been taken for the assessment of his income or of the income of any other person in respect of which he is assessable, or of the loss sustained by him or by such other person, or the amount of refund due to him or to such other person;
• Every person who is deemed to be an assessee under any provision of this Act;
• Every person who is deemed to be an assessee in default under any provision of this Act;
| Is This Answer Correct ? | 2 Yes | 0 No |
Tell me about an invoice discrepancy you discovered and how you resolved it
what is accounting concept? explian in brief?
9 Answers Capital IQ, Hero Honda,
There is no item category assigned to account
What is the use of form D in sale tax
What is bank reconcilation a/c
Please tell me entry for following bill. Goods 500 Disc- 10% 50 ---------------- Bill Amt 450
whatisledger
whaT IS THE notional cash pooling
Was there a time when you lost the chance to engage a prospect? What happened and what did you learn?
what is Bills payable
Is it necessary after every journal entry to show its treatment in P&L a/c? Eg. if I am asked to show journal entry of purchasing furniture & fixture on 1st Aug 06, i.e. Furniture & fixture a/c Dr. To cash/bank a/c Along with this, I have to pass following journal entry on 31st Mar 07?? P&L a/c Dr. To Furniture & fixture a/c
Should we take the taxes in to P& L A/c.