Minor it file
This query is : Resolved
07 December 2014
MY SON ( 16 YRS ) MINOR IS EARNING INCOME 2.5 LACS BY WAY OF HIS SKILL & TALENT OF SINGING
WILL HIS INCOME BE CLUBBED WITH ME ( HIS FATHER )
KEEPING THE ABOVE POINT IN MIND CAN HE ALSO OPEN A PPF ACCOUNT AS A MINOR UNDER MY GUARDIANSHIP ?
I ALREADY HAVE AN EXISITING PPF AC
WILL HIS INCOME BE CLUBBED WITH ME ( HIS FATHER )
KEEPING THE ABOVE POINT IN MIND CAN HE ALSO OPEN A PPF ACCOUNT AS A MINOR UNDER MY GUARDIANSHIP ?
I ALREADY HAVE AN EXISITING PPF AC
07 December 2014
No. Clubbing Provision will not apply since income is earned from his own skills. His return will be filed separately.
Yes PPF account can be opened in your Son's name under your guardianship.
Yes PPF account can be opened in your Son's name under your guardianship.
Message likes :
1 times
09 December 2014
Sanjay ji , thx for your reply. I and my wife already have existing ppf accounts , still can i open a ppf account in my son's name under my guaridanship. So it will mean we will end up having 3 ppf aacounts in our family.Kindly advise
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- TDS Challan Code
- SALE BILL AGAINST GOODS RETURN
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
