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Definition and type of Persons

Person includes

  1. Individual,
  2. Hindu Undivided Family (HUF),
  3. a Company,
  4. a Firm
  5. Associations of Person
  6. Body of Individual
  7. Local authorities
  8. Artificial jurdiction person



Individual

Individual refers to a living person i.e. Man,woman, transgender,minor or major.


Hindu Undivided Family (HUF)

A Hindu Undivide Family  (HUF) is relationship created due to operation of hindu law. The head of HUF is karta and member are called coparceners. 


http://www.commercetutors.com/2020/02/definition-and-type-of-persons.html
Company

A Company refers to artificial persons incorporate under Company Act 2013 or any other act.

Firm

Persons who have entered into partnership with one another are called individually "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm name".

Association of Person

It means two or more persons join for a common purpose with a view to earned income.

Body of Individual

It means a conglomeration of individual who carry on some activity with the objective of earning some income


Local Authority

All municipal corporations, or councils, committees, panchayat boards, port trusts, district boards and other authorities legally entitled to or entrusted by the Central or State Government with the control and/or management of a municipal or local fund are covered by the expression ‘local authority‘.

Artificial Jurdiction Person

A public corporation established under special Act of legislature and a body having juristic personality of its own are known to be Artificial Juridical Persons.

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