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Applicable income tax on individual persons in a family

sujit naha (accountant) (339 Points)

26 November 2016

Husband - income 250000/- /// Wife Income 250000/- //// Son Income 250000/- //// Daughter Income 250000/- in One year

They deposited the same amount in their own bank account in one year

My question is have there is applicability Income Tax on their personal Income ??

If yes then clarify please....

If no then my question is can Income Tax treated as Total Familiy Income for impliment of Income Tax

Please reply... thanks

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5 Replies

Pan Verification (MBA) (29 Points)
Replied 26 November 2016

Income tax will be paid only by the person who are employe in a company or self employed, just

Know Your Pan by here.

Deepak Rathi (surat) (42 Points)
Replied 27 November 2016

Income tax is applicable on income which is earned by salary, business professional and any other source if it exceeds 250000 then tax is calculated....

CA Neha Agrawal (CA) (825 Points)
Replied 27 November 2016

Tax is not calculated on family income. It is calcualted on individual income.

prashantkumar (CA final) (96 Points)
Replied 30 November 2016

points to be consider 1)Income of wife should be clubed in the hands of husband in case income earned by the wife with the money of husband else not 2) income earned by the minor son will be clubed in the income of father/mother as the case may be income earned by the son otherwise than by way of his own talent & non applicability of u/s 80U cases only. 3) Income of minor married daughter/minor unmarried daughter clubed like minor son. but whole family income will not be taxable/clubed unless above situations happen.