Income of minor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2011
Bank deposits are kept in minors name. Father has taxable income. Bank has made TDS and will issue TDS certificate in the name of Minor. Income will be clubbed in the income of the father. Then how father will get the credit of TDS certificate issued in the name of Minor?
26 August 2011
request to bank to change TDS details.
27 August 2011
HI,
BANK DEDUCT TDS IN THE NAME OF MINOR HERE QUESTION IS THAT MINOR HAVE A PAN OR NOT?????
NO MATTER U HAVE TO FILE YOUR RETURN OF INCOME WITH APPLICABLE CLUBBING PROVISION AND DEDUCT TDS (DEDUCTED FROM MINOR'S INCOME)FROM YOUR TAX.
IF MINOR HAVEN'T PAN THEN BANK WILL BE LIABLE TO PAY TAX @ 20%.
NO MATTER YOUR 26AS NOT DISCLOSE THIS.....
BANK DEDUCT TDS IN THE NAME OF MINOR HERE QUESTION IS THAT MINOR HAVE A PAN OR NOT?????
NO MATTER U HAVE TO FILE YOUR RETURN OF INCOME WITH APPLICABLE CLUBBING PROVISION AND DEDUCT TDS (DEDUCTED FROM MINOR'S INCOME)FROM YOUR TAX.
IF MINOR HAVEN'T PAN THEN BANK WILL BE LIABLE TO PAY TAX @ 20%.
NO MATTER YOUR 26AS NOT DISCLOSE THIS.....
27 August 2011
yes that's right but make sure whose name and pan bank deducted TDS.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- GST Rate for Catering Services
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- ITR 4 and Bank transactions
- FCRA 6 E- Intimation
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
