Clubbing of income
This query is : Resolved
Jatin Ashar
(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?
and what effect should be given in such transcation?
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
(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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