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Discussion > Income Tax > Tax queries >

Minor becoming major.Tax consequences

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CA Student

[ Scorecard : 171]
Posted On 13 December 2008 at 19:02 Report Abuse

When minor becomes major at anytime previous year lets say on 1/1/08 during previous year 2007-08 whether his income would be clubbed with the income of his parents or whether he has to file seperate return of income if his income during the previous year exceeds maximum amount not chargeable to tax as he is now major or whether his income would be divided into two parts,upto the date he attains majority his income would be clubbed with income of his parents and after the date he has attain majority he has to file seperate return of income?



(Guest)
Posted On 13 December 2008 at 19:40

Your status as at the end of the Financial year is to be examined and if you are major then income to be assessed separetly.



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