Section 2(7) → Section 2(12)
Definition of Assessee
Quick Answer
Section 2(7) of the Income Tax Act, 1961 (Definition of Assessee) corresponds to Section 2(12) of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 2(7)
Provision Summary
Defines a person by whom any tax or any other sum of money is payable under the Act.
Sec 2(12)
Provision Summary
Retained. Broadened to explicitly include persons liable for new digital asset penalties.
Key Changes & Highlights
- Includes representatives of non-resident digital entities.
Frequently Asked Questions
What does Section 2(7) of the Income Tax Act 1961 deal with?
Section 2(7) (Definition of Assessee) Defines a person by whom any tax or any other sum of money is payable under the Act.
What is the new section number for Section 2(7) under the Direct Tax Code 2025?
Section 2(7) of the ITA 1961 maps to Section 2(12) of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 2(7) under the new tax code?
Section 2(7) is marked as "Retained" with status "Active". Impact: Low - Foundational definition.
What are the key changes to Section 2(7) under DTC 2025?
Includes representatives of non-resident digital entities.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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