Sec.64(1A)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 February 2011
Is sponsorship given by company to minor for playing cricket is taxable in his hands or not?
16 February 2011
In playing cricket , the minor has to apply his skill, talent, knowledge and specialised knowledge and skill. Further the income arises due to manual work done by him. Hence
Proviso to Section 64(1A) excludes the income of such minors from clubbing the income with his parents.
As such the minor will be assessed to tax.
.
Proviso to Section 64(1A) excludes the income of such minors from clubbing the income with his parents.
As such the minor will be assessed to tax.
.
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