Clubbing of income

This query is : Resolved

Guest

Guest (Querist)

24 July 2014 A minor has a pan no. he is earning interest income. his income is in 26AS and also in his mother 26AS included.it can be possible?plz rply fast

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 yes as per clubbing provisions u need to club the income wiht mother.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 yes as per clubbing provisions u need to club the income wiht mother.

Vishnu Saboo

Vishnu Saboo (Expert)
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24 July 2014 yes, income to be clubbed

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 July 2014 it seems that there is an error in processing of Form 26AS.

irrespective, you need to club the income as per section 64. please note that income is earned by the minor through application of his efforts - physical or mental, the said incomes shall not be clubbed

Vishnu Saboo

Vishnu Saboo (Expert)
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26 July 2014 since in given query , income is from interest, so i feel it must be clubbed.

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