Clubbing of income

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 March 2014 When a father (super Senior citizen) transfers his rental income to his daughter (NRI), will it be taxable in both the hands or for any one ? If for one ? For whom will it be taxable ?

15 March 2014 It is not a taxable income in the hands of the daughter. Father needs to pay tax on the income

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 March 2014 Thanks sir, for your valuable reply and i have one more doubt.
In which mode it should be transferred ? or is there any specific formalities for transfer?


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