Section 2(20)/ 2(35) Income Tax: Director, Manager, Managing Agent & Principal Officer – Meaning

Definition of the terms ‘Director, Manager, Managing Agent & Principal Officer’ under Sections 2(20) and 2(35) of the Income Tax Act:

a) Definition of ‘Director/ Manager/ Managing Agent’: Section 2(20) Income Tax

As per Section 2(20) of the Income Tax Act, 1961, unless the context otherwise requires, the terms “director”, “manager” and “managing agent”, in relation to a company, have the meanings respectively assigned to them in the Companies Act, 1956 (1 of 1956). [currently the Companies Act, 2013]

b) Definition of ‘Principal Officer’: Section 2(35) Income Tax

As per Section 2(35) of Income Tax Act, 1961, unless the context otherwise requires, the term “principal officer”, used with reference to a local authority or a company or any other public body or any association of persons or any body of individuals, means-

(a) the secretary, treasurer, manager or agent of the authority, company, association or body, or

(b) any person connected with the management or administration of the local authority, company, association or body upon whom the Assessing Officer has served a notice of his intention of treating him as the principal officer thereof.

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