Income tax minor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2012
Dear Freinds.
A has two minor sons named B & C
In fy 11-12
"B" received birth gift from guest rs 45000
"C" received birth gift from guest rs 45000
sum is 90000
will the amount be clubbed in parent income as total of gift received is above 50,000?
pls guide
A has two minor sons named B & C
In fy 11-12
"B" received birth gift from guest rs 45000
"C" received birth gift from guest rs 45000
sum is 90000
will the amount be clubbed in parent income as total of gift received is above 50,000?
pls guide
CA Lokesh Pokharna
(Expert)
31 July 2012
these would be clubbed and 1500rs. exemption can be allowed.... clubbing occurs bcoz its not a exception in sec 64
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