What Is Deemed Assessee?

Hey Friend,

One who pays tax or any other amount in accordance with the terms of the Income Tax Act of 1961 is referred to as an income tax assessee. Every person who has had their income assessed, their ability to be assessed for another person's income or their own profit or loss is referred to as an "assessee." To understand the deemed assessee meaning, I would like to state that it is one type of income tax assessee.

There are 4 types of income tax assessee;

• Normal Assessee

• Representative Assessee

• Deemed Assessee

• Assessee-in-default

People who are assigned the obligation to pay taxes by the judicial system are known as "deemed assessees."

Examples of who is deemed assessee,

• oldest son, or a rightful heir of a decedent who died without leaving a testament.

• a person who, by written designation, has lawfully inherited or been appointed as the executor of another person's estate.

• the person who takes care of a lunatic, young child.

• the agent of a non-resident Indian who receives funds from India.

For instance, Mr. P owns a business building from which he receives rent payments. He has written a will specifying that the property shall be given to his niece following his passing. When he passes away, his niece will be regarded as the property's executor or deemed the assessee. She will be liable for paying tax on the resulting rental income.

I hope this answer suffices your query about the deemed assessee meaning. I hope this helps:)

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