Clubbing of income of minor

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CA Shelly Singhania (Querist)
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23 September 2009 Minor child receices gift from say mother's frnd worth Rs.20000
Mother recd. gift from her friend worth Rs35000.
So if son's income is clubbed with mother's income,then for claiming exemtion U/s56
gift amts will seperately taken into consderation i.e Self-rS.35000 So exempt n Son's-Rs20000 so exempt again
OR
Total gift amount Rs.55000 will be taxable n mother can claim exemption U/10(32) of Rs.1500.

Please clarify y doubts sa soon as possible.
Thanks

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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23 September 2009 Total gift amount Rs.55000 will be taxable n mother can claim exemption U/10(32) of Rs.1500.

consider also that minor`s income will be club in the income of father or mother whose income is higher.

Ratan Sharma

Ratan Sharma (Expert)
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23 September 2009 Agree with expert.

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