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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2014 My brother aged 16 have FB account which will going to be mature after 2 months with the amount of rs 150000/- after TDS. He has no other incomes. In this case can he apply for refund being a minor, if not what is the solution?please let me know experts.

18 August 2014 plz write whose money is this? Is this his own earning or earning of any other person deposited in his name?

18 August 2014 plz write whose money is this? Is this his own earning or earning of any other person deposited in his name?

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Querist : Anonymous

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18 August 2014 it is his own money.During the sale of his grandfather's property,(mother's father)deposited the amount.He has the right on it.

18 August 2014 His grandfather has gifted the money, though he (your brother) has legal right, any income from such money is considered the income of grandfather.

apply for PAN and give the PAN details to bank, if he do not have PAN, bank will deduct 20% tds.

18 August 2014 His grandfather has gifted the money, though he (your brother) has legal right, any income from such money is considered the income of grandfather.

apply for PAN and give the PAN details to bank, if he do not have PAN, bank will deduct 20% tds.

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Querist : Anonymous

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18 August 2014 can minor file ITR?

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Querist : Anonymous

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18 August 2014 Sir,How it could be gift?because he has the right on that land.Grand father sold the land and deposited his(Brother) share as FD.

19 August 2014 If it is his share of proceed of land, then it is not gift.

19 August 2014 If it is his share of proceed of land, then it is not gift.


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