Clubbing of income
This query is : Resolved
12 January 2016
in the case of clubbing: Which Income (Gross income or Net income) are clubbed in the parent income.
12 January 2016
Need to club the net income.
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12 January 2016
sir , if minor income from interest on FD is rs 145000 and during the year minor father invest in PPF A/c of rs 120000 (in the name of minor) . so, minor income club in parent only rs 25000
13 January 2016
If 1,20,000 is invested out of 1,45,000, then club only 25,000.
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14 January 2016
In this case, gross income (ie., 1,45,000) is to be offered under the head 'income from other sources' and to be clubbed with parent's income.
I stand corrected . Inconvenience is regretted.
I stand corrected . Inconvenience is regretted.
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