Income tax
Querist : Anonymous
X made a fixed deposit in a bank and directed bank to transfer interest on it to Y who is grand son of X ,
interest income = 10000
1) Y is a minor child
2) Y is major only
3)interest is transfered to support Y education
(please provide answer with reasons)
Income of minor will be clubbed with Parents
Refer section 64(1A)
Thanks
Querist : Anonymous
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