clubbing of minor`s business income
This query is : Resolved
03 December 2010
is doing business of trding in shares involve application of skill and talent?
this is to conclude whether minors business income for sale and purchase of shares attracts clubbing provision in FY.2008-09 and 2009-2010
this is to conclude whether minors business income for sale and purchase of shares attracts clubbing provision in FY.2008-09 and 2009-2010
03 December 2010
If the minor himself is trading then it can be proved that the income arising from trading is purely attributable to the application of skill and talent of the minor irrespective of any technical certification or degree obtained from any institution. Thus the income of minor arising from trading will be separately assessed in minor's hands.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Average Cost Of High Quality Diamonds
- Regarding ITR filing with more value than showing in AIS/TIS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
