Minor's bank account number in income tax return of parents
This query is : Resolved
21 August 2015
I want to know whether do we need to put the bank account number of minor in parents Income Tax Return if the income of minor is clubbed in the hands of parents.
Also, clarify what will happen if income to be clubbed is less than Rs.1500/- & above Rs. 1500/-
Also, clarify what will happen if income to be clubbed is less than Rs.1500/- & above Rs. 1500/-
22 August 2015
No need to share details of the minor's bank account in your return, unless there is a substantial income in getting clubbed. Less than Rs.50000, no need in my opinion.
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