clubbing of minor`s income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2010
Whether profit on sale of shares by minor be clubbed in the hands of their Parents.
03 December 2010
YES
03 December 2010
Hello sanjay sir., this query created a new doubt in my mind.... Can a minor enter into an agreement of purchase or sale of shares?? Coz thats a contractual agreement, how can any minor sale shares in his name???
03 December 2010
Yes Dhiraj Ji you are correct at present demat account can not be opened in the name of Minor (legally) and hence share trading is not possible but earlier there were demat accounts in the name of the minor.
So if there is any such profit from share trading it can be clubbed with minor.
So if there is any such profit from share trading it can be clubbed with minor.
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- 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
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
