Clubbing of Income
This query is : Resolved
Guest
Guest
(Querist)
25 May 2009
I want to Know that A Child Income Club with his parents. but if his parents is not live then he Win 10 Lack Prize. is this income is taxable if yes, how?
25 May 2009
Please clear your Q!
25 May 2009
first of all there is no age limit in income tax for taxability of income, so minor is also taxable under the income tax act. So this income will be taxable in his hands.
25 May 2009
The provisions of clubbing will not attract here since winning a prize is on account of personal skill of minor so it will be taxable in his own hands.
Guest
Guest
(Querist)
06 July 2009
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Copyright software
- SFT Cash Deposit in Current Account
- Multiple trade mark
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
