Sometimes income tax terms can be confusing. According to tax laws, every person has to pay income tax. ‘Person’ as per the law includes natural as well as artificial entities. For the purpose of charging Income-tax, the term 'person' includes Individuals, Hindu Undivided Families [HUFs], Association of Persons [AOPs], Body of individuals [BOIs], Firms, LLPs, Companies, Local authority and any artificial juridical person not covered under any of the above.