What is representative assessee?
In one sentence
A person taxed on income received on behalf of someone else, such as a trustee taxed on a trust’s income for its beneficiaries.
An everyday analogy
Like a guardian who files tax for a child’s income.
How it flows
A real example
The trustee of a SEBI Category III AIF pays tax on the fund’s income on behalf of its investors.
Why it matters
It explains why Category III fund income is taxed inside the fund.
How it differs
Under pass-through, the investor is taxed directly; under representative assessment, the trustee is.
What the law says
Section 303(1)(d)
(d) in respect of income which a trustee appointed under a trust declared by a duly executed instrument in writing whether testamentary or otherwise [including any wakf deed which is valid under the Mussalman Wakf Validating Act, 1913 (6 of 1913)] receives or is entitled to receive on behalf or for the benefit of any person, such trustee or trustees;
Income-tax Act, 2025 as amended by the Finance Act, 2026 · text as notified, amendment footnote numbers omitted · checked 24 October 2026 · Official text
Show answer
The trustee, as representative assessee of the investors.
Related pages
Meet the expert
CS Prashant Kumar
Company Secretary & Compliance Officer
Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker
Published in The Chartered Accountant (Jun 2025, Jan 2025, Mar 2024) and Chartered Secretary (Aug 2023)
Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.