Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Attained 18 years of age

Save Share

This query is : Resolved

Rahul Daga (Querist)
Follow

20 June 2014 An individual has attaind 18 years of age in financial year 13-14. During this year, he has net income of Rs. 2.5 lakhs. What would be his income tax liabiliry ? Please quote the relavant sections also. Thank you in advance

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

20 June 2014 there are two views on this:

according to one view, income earned till the day he turned 18 should be clubbed with parent with higher income and income earned subsequently should be taxed in his own tax return

another view is that the whole of the income should be taxed in individual's return. in this case tax liability shall be Rs 3,090

Rupesh Jain

Rupesh Jain (Expert)
Follow

20 June 2014 he can file return for the year 2013-14 and his income exceed rs. 200000/-
and if he have no invest for deduction u/s 80 then he have to pay tax on above income Rs. 3090.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now