Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.
how long the provision of clubbing will be applicable if gift received
by spouse is invested and the income is received from such investment.
Good one.As the language used is simple its easy for effective learning...
I think use of word 'daughter in law' will change the intention. Because in the absence of son (i.e. after the death of son) she is continue to be daughter in law but not son's wife as now she is son's widow. Pl give your views.
as per sec 64 1 (vi) & (vii), clubbing provision will be attracted if transfer is made to son's wife.
how will cost of acquisition of bonus shares be 1 lac?
Yes Bapurao, The income will be taxable in the hands of minor, but not in the hands of parents income.
Maiden attempt by Saurabh and excellent.
Thaks Sir, its very infromative article , but i have 1 dought, when income of minor child from his own skill & knowledge not be clubbed in the hands parents income, so the same income can be assessed in the name minor ?
Very nice and useful article for beginners
You need to be
logged in to post comment
back to the top
Let us grow stronger by mutual exchange