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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
