tax
This query is : Resolved
rahul sharma
(Querist)
02 September 2009
what is clubbing ?and what is role of a minor in clubbing?and who is tax payable in this case?
Late CA Sampat Jain
(Expert)
02 September 2009
INCOME OF ONE PERSON IF DEEMED AS INCOME OF OTHER PERSON AS PER IT ACT , THE INCOME IS SAID TO BE CLUBBED WITH THAT OTHER PERSON.
MINOR INCOME IS CLUBBED WITH PARENT INCOME
MINOR INCOME IS CLUBBED WITH PARENT INCOME
02 September 2009
clubbing means income of one person is clubbed in the hands of others, provisions of clubbing are applicable when income belongs to some one else and it is received by anotherone
in case of minor - income of such minor shall be included in the hands of parents whose other income are higher excluding minor's income, and such income so be included in years to come... further deduction of Rs. 1500 is available from the same.
in case of minor - income of such minor shall be included in the hands of parents whose other income are higher excluding minor's income, and such income so be included in years to come... further deduction of Rs. 1500 is available from the same.
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