Clubbing of income

This query is : Resolved

anshul (Querist)
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21 September 2011 suppose Mr.A is the owner of commercial property & beacause of some chronic disease its not possible for him to do business on that particular property so he exercises General Power of Attorney(GPA) in favour of his son having age 20 years.
so whether clubbing & deeming provisions shall be applied or not.

anshul

anshul (Querist)
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22 September 2011 Sorry i forget to tell that his son lets out this property & receives rent so whether deeming & clubbing provisions shall apply ?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 September 2011 Clubbing provisions do not apply when property is transferred to a major son. They apply only when property is transferred to a minor son.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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23 September 2011 Clubbing is for minor son and not for major son. There is no transfer of property directly or indirectly without consideration Therefore, the provision of Section 64 are not applicable

anshul

anshul (Querist)
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26 September 2011 so it means that income earned by major son under head house property would be taxed in his own hands...

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 September 2011 Yes. The income earned by the major son would be taxed in his hands.

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