minor income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2011
Any minor childs earning income are taxable ? Any minor child can make income tax file ? If yes please describe ?
CA. Krishna K Neeraj
(Expert)
03 July 2011
Minor Income is clubbed with income of his/her parent's income. So though the income of minor is taxable, he is not required to file his return for his own income.
If the minor is having any income due to his own talent, his income is not clubbed with his parents income. If that income is taxable, he can make income of return in his own name as in income tax act, there is no bar on minor on filing income tax return
If the minor is having any income due to his own talent, his income is not clubbed with his parents income. If that income is taxable, he can make income of return in his own name as in income tax act, there is no bar on minor on filing income tax return
CA Suresh Choudhary
(Expert)
03 July 2011
Agree with expert
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