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.
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