Section 160 of the 1961 Act → Section 303 of the 2025 Act
Representative assessee.
Quick answer
Section 160 of the Income-tax Act, 1961 corresponds to Section 303 of the Income-tax Act, 2025. Relationship: Revised. Correspondence verified against both Acts.
How it works
A trustee is taxed on income it receives on behalf of beneficiaries, as their representative.
Example
A SEBI Category III AIF’s trustee pays tax on the fund’s income for its investors.
What you need to do
Category III fund: compute and pay tax at fund level. Investor: no tax on that income again; a gain on redeeming units is a separate question (see Understand fund tax).
What changed?
- Read the complete new provision, including its conditions, exceptions and related provisions, when applying it.
The two texts, side by side
1961 · Section 160160. (1) For the purposes of this Act, "representative assessee" means— (i) in respect of the income of a non-resident specified in sub-section (1) of section 9, the agent of the non-resident, including a person who is treated as an agent under section 163; (ii) in respect of the income of a minor, lunatic or idiot, the guardian or manager who is entitled to receive or is in receipt of such income on behalf of such minor, lunatic or idiot; (iii) in respect of income which the Court of Wards, the Administrator- General, the Official Trustee or any receiver or manager (including any person, whatever his designation, who in fact …
2025 · Section 303303. (1) For the purposes of this Act, “representative assessee” means— (a) in respect of the income of a non-resident specified in section 9, the agent of the non-resident, including a person who is treated as an agent under section 306; (b) in respect of the income of a minor or a person who is mentally ill or of unsound mind, the guardian or manager who is entitled to receive or is in receipt of such income on behalf of such minor or a person who is mentally ill or of unsound mind; (c) in respect of income which the Court of Wards, the Administrator-General, the Official Trustee or any receiver or manager (including any person, whatever …
Excerpts end with … where the provision continues. Last reviewed 24 October 2026.
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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.