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TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... s chargeable interest or of the amount of refund due to him or of the chargeable interest of any other person in respect of which he is assessable or of the amount of refund due to such other person; ( b ) every person who is deemed to be an assessee in default under any provision of this Act; ( 2 ) "assessment" includes reassessment; ( 3 ) "assessment year" means the period of twelve months comme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 1951); and ( iv ) any other financial company; ( 5B ) "financial company" means a company, other than a company referred to in sub-clause ( i ), ( ii ) or ( iii ) of clause ( 5A ), being— ( i ) a hire-purchase finance company, that is to say, a company which carries on, as its principal business, hire-purchase transactions or the financing of such transactions; ( ii ) an investment company, that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany which carries on, as its principal business, the business of acceptance of deposits from its members and which is declared by the Central Government under section 620A of the Companies Act, 1956 (1 of 1956), to be a Nidhi or Mutual Benefit Society; [* * *] [( va ) a residuary non-banking company [other than a finan cial com-pany referred to in sub-clause ( i ), ( ii ), ( iii ), ( iv ) or ( v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in India, but does not include— ( i ) interest referred to in sub-section (1B) of section 42 of the Reserve Bank of India Act, 1934 (2 of 1934); ( ii ) discount on treasury bills;] ( 8 ) "prescribed" means prescribed by rules made under this Act; ( 9 ) [* * *] ( 10 ) all other words and expressions used herein but not defined and defined in the Income-tax Act shall have the meanings respectively a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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