Minor Income
This query is : Resolved
10 January 2011
There is minor child resident in India. Both the parents are non
resident living abroad. The minor child has fixed deposit in foreign
bank outiside India. The minor child files return of income offering
such income earned outside India. His parents filed respective return
declaring income earned in India. The A.O. refers to Sec 64(1A) and
Sec 5 and decides to club the minor interest income earned outside
india in the Total Income of Father. So Advice
resident living abroad. The minor child has fixed deposit in foreign
bank outiside India. The minor child files return of income offering
such income earned outside India. His parents filed respective return
declaring income earned in India. The A.O. refers to Sec 64(1A) and
Sec 5 and decides to club the minor interest income earned outside
india in the Total Income of Father. So Advice
Vivek Raju P
(Expert)
10 January 2011
The AO cannot do this as they are non residents and this income will partake the character of income earned outside india which will not be taxable for non residents.
It can be assessed only in the hands of the minor.
It can be assessed only in the hands of the minor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
