Change of Status from Minor to Major in FY10-11
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 April 2010
My child turns 18 on 16th Feb 10.Prior to this ,she owns a property given to her as gift from her NRI uncle.Rental income was being clubbed with mother.
I want to know if she will have to still club income with mother from 1st Apr 10 to 15th Feb 11 and from 16th feb to 31/3/11, she will need to file under her own name.Also how does she claim for her personal tax /Sec 80C rebates-will it be proportionately as above mentioned?
I want to know if she will have to still club income with mother from 1st Apr 10 to 15th Feb 11 and from 16th feb to 31/3/11, she will need to file under her own name.Also how does she claim for her personal tax /Sec 80C rebates-will it be proportionately as above mentioned?
24 April 2010
If the income accrues every month then Clubing of income with mother will be from 1st Apr 10 to 15th Feb 11 and from 16th feb to 31/3/11 the income will be charged in the hands of the minor who turns major.
If income accrues at the end of the year like interest paid once in a year then entire income for 2010 - 11 will be taxable under the hands of the minor who turns major.
If the child turns 18 on 16th Feb 10 then answer as above only year will change.
If income accrues at the end of the year like interest paid once in a year then entire income for 2010 - 11 will be taxable under the hands of the minor who turns major.
If the child turns 18 on 16th Feb 10 then answer as above only year will change.
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