Clubing of income

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Dwarkadas Madanlal Kabra

Dwarkadas Madanlal Kabra (Querist)
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07 May 2017 Pls any body clear with example clubing of income in income tax

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 May 2017 Go to link provided https://www.google.co.in/search?hl=en-US&ie=UTF-8&source=android-browser&q=clubbing+provision+with+examples&gfe_rd=cr&ei=ZS8PWaPTH-7s8AeyjomQBQ&gws_rd=ssl#gfe_rd=cr&gws_rd=ssl&xxri=3

Dwarkadas Madanlal Kabra

Dwarkadas Madanlal Kabra (Querist)
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08 May 2017 Gift revived by my 2 minor daughter(their age 12 yrs and 10 yrs old) from their nani and mama worth rs. 196000 and 190000 in FY 2016-2017 . weather is clubbing in my income or i prepare gift deed for the same. what i can i do. pls tell

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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08 May 2017 Yes this income is clubbed with income of parent having more taxable income & deduction of Rs.1500/- for each child is available. Yes u have to prepare gift deed.

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