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Clubbing of income

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(Querist)
08 November 2012 if a minor cricket player receives prize money other than his match fees, will the prize money be clubbed to his parents income?
and what effect should be given in such transcation?
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 November 2012 a minor getting income for his/her skill can be taxed independently. The return will be signed by the either of the parents
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CA GAGAN KHARBANDA

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CA GAGAN KHARBANDA (Expert)
09 November 2012 Yes, Both prize money with match fees will be taxed in hand of minor not to be clubbed in parents...




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