Clubing of income
This query is : Open
07 May 2017
Pls any body clear with example clubing of income in income tax
CA Rashmi Gandhi
(Expert)
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
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
(Expert)
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.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Advances to related party
- Capital Gains Tax on Inherited Mutual Fund
- Royalty payments to the Mining Department for procurement of murum - GST input
- Gift to nri relatives residing in usa
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
