Settlement of property in the name of minor

CA V. Mohanakrishnan (Chartered Accountant) (401 Points)

09 March 2009  

In case of income arising out of property by way of a will or by way of a settlement in favour of minor by the paternal grandfather (with the mother as guardian), would the income be taxed in the hands of

a) minor with the mother being guardian

b) of the mother

c) in the hands of the father