clubbing of minor`s business income
This query is : Resolved
navin dedhia
(Querist)
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
CA Navin Jain
(Expert)
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- TDS- 2026-27 Q1 Correction
- Import Order Cancelled.
- Intimation under section 245
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
