Sec.64(1A)

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15 February 2011 Is sponsorship given by company to minor for playing cricket is taxable in his hands or not?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.
.

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