Tax Glossary Definition
Joint assessment refers to the process of assessing the income of two or more persons together as a single unit for tax purposes. This typically applies in cases such as a Hindu Undivided Family (HUF) or when joint ownership or shared income sources exist. The combined income is assessed under one return, and tax liability is computed collectively.
Example: A married couple or members of an HUF may opt for joint assessment, where the family’s total income is assessed together under the Karta’s name.
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