n NISM Certifications
X NISM Series X
Medium

Under the Income Tax Act, who is not included in the definition of an "Assessee"?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    A deemed assessee

  2. B

    A person not liable to pay tax but with a pending case

  3. A minor with income during the year

    Correct answer

  4. D

    Someone with no income but with a refund due from last year

Why this is the answer

Minors are generally not considered assessee; their income is clubbed with the guardian’s income, and they are not assessed separately.

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