Minor income
This query is : Resolved
06 August 2011
i have commercial rental property in my sole name in bangalore.
now i want it to divide equally with me,my wife and my son who is a minor(11 years).
will there be any objection from income tax and other departments.pls help me. this i am thinking specially to avoid service tax.
now i want it to divide equally with me,my wife and my son who is a minor(11 years).
will there be any objection from income tax and other departments.pls help me. this i am thinking specially to avoid service tax.
06 August 2011
U can do it by executing a gift deed. However if there is any income from the property , it will be clubbed in your hands only.
U can do it by executing a gift deed. However if there is any income from the property , it will be clubbed in your hands only.
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