clubbing of minors income
This query is : Resolved
03 December 2010
Sanjay Sir,
Will the answer be the same if mionr is doing regular business of Purchase and sale of shares, and will that profit on those shares be clubbed in the hands of parents?
The minor is earning this business income from regular trading of shares in F.Y.2008-2009 and 2009-2010,
So can u pls tellme from which period minor was not allowaed to open a demat a/c? so that I can conclude that in which Financial Year his business income will be clubbed in the hands of his parent.
Will the answer be the same if mionr is doing regular business of Purchase and sale of shares, and will that profit on those shares be clubbed in the hands of parents?
The minor is earning this business income from regular trading of shares in F.Y.2008-2009 and 2009-2010,
So can u pls tellme from which period minor was not allowaed to open a demat a/c? so that I can conclude that in which Financial Year his business income will be clubbed in the hands of his parent.
03 December 2010
If Minor is earning income from share trading, same will be clubbed with the income of parent, irrespective of the FY.
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