minor child attains majority
This query is : Resolved
pulkit jain
(Querist)
28 January 2011
A minor attains majority in the mid of a financial year. He is given interest on 31 march every year.Will the interest accrued be calculated and clubbed in the hands of his parent till he attains majority? please explain.
Aditya Maheshwari
(Expert)
28 January 2011
if u could show accrues on 31.03 then show income in minors hand.
Guest
Guest
(Expert)
28 January 2011
No, entire income will be taxable in the hands of child who has become major on ore before 31March
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