Clubbing of minor income in parents ITR
This query is : Resolved
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25 April 2025
Hii..
My son is 2 years old. Usually during festival and other occasions he get gift (money) from relatives. Can i open bank account in his name and deposit cash in that account and use that money for LIC in his name?
Will it be clubbed in parents ITR?
Is their any other better investment option for children's?
My son is 2 years old. Usually during festival and other occasions he get gift (money) from relatives. Can i open bank account in his name and deposit cash in that account and use that money for LIC in his name?
Will it be clubbed in parents ITR?
Is their any other better investment option for children's?
25 April 2025
Whatever way you use the money, clubbing provision will apply.
PPF account would be better option.
PPF account would be better option.
28 September 2025
Good luck.....
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