Minor children interest income
This query is : Resolved
14 July 2012
DEAR SIR,
ONE OF MY CLIENT HAS RECEIVED INTEREST FROM BANK ON HIS MINOR SON'S NAME
MINOR IS HOLDING PAN NO AND TDS DEDUCTED BY BANK AND IT SHOWS IN 26AS
CAN HIS FATHER CLUB HIS MINOR SON'S INTEREST INCOME IN HIS IT RETURN AND GET TAX CREDIT WHICH SHOWS IN 26AS OF HIS MINORS
ONE OF MY CLIENT HAS RECEIVED INTEREST FROM BANK ON HIS MINOR SON'S NAME
MINOR IS HOLDING PAN NO AND TDS DEDUCTED BY BANK AND IT SHOWS IN 26AS
CAN HIS FATHER CLUB HIS MINOR SON'S INTEREST INCOME IN HIS IT RETURN AND GET TAX CREDIT WHICH SHOWS IN 26AS OF HIS MINORS
15 July 2012
Exactly, the father of the minor son can claim the TDS subject to club the income of the minor son to his income.
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