Clubbing of income

This query is : Resolved

Akash Jain (Querist)
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13 April 2012 In case both the parents are not alive, the income of minor cannot be assessed in the hands of grandparents or any other relatives or even in the hands of minor himself.

Then in whose hands such income will be taxable??
What are the tax implication with regards to such income??

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

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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15 April 2012 The clubbing provision is as per the provisions of section 64 and it can be added in the hands of the parents either mother or father whose income is nigher. In the present case when both mother and father are not alive the return is to be submitted in the name of the minor but there must be some legal guardian to sign the return.

CA Bhuvnesh mittal

CA Bhuvnesh mittal (Expert)
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15 April 2012 Yes the views expressed by mr. agarwal is correct.

Akash Jain

Akash Jain (Querist)
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15 April 2012 Then, if return is filed in the name of minor, for calculating his tax liability the tax slabs applicable to the minor are same that of the individual???

CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)
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16 April 2012 There is no specific provision regarding the slab applicable to the minor. However, in the absent of any specific provision apply the general provision.

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