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Minor income

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2014 As per clubbing of income minor income is clubbed in the hands of parents whose is more, if a minor is received any amount and that is invested in bank other than FD i.e saving bank A/c and get interest of Rs 10000 or more so while computing of tax liability the parents can claim Rs 1500 deduction u/s 10 or chapter VI A deduction under 80TTA i.e upto 10000 is exempt.Thx
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
07 May 2014 the ans is yes allowed to take this 2 benefit...
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