taxation change when minor becomes a major
This query is : Resolved
11 February 2011
My daughter an NRI will turn 18 on 16th Feb 2011.Does the income from 1/4/10 to 15/2/11 be clubbed with parent and from 16/2/11 to 31/3/11 in her individual name.
Can an NRI get any deduction from Sec 80C.
Can she get the full Rs160,000 personal tax rebate or only 20,000 for period 16/2/11 to 31/3/11.
Can an NRI get any deduction from Sec 80C.
Can she get the full Rs160,000 personal tax rebate or only 20,000 for period 16/2/11 to 31/3/11.
13 February 2011
1. She will be entitled to have slab benefit of Rs. 190000/- for the A Y 2011-12.
*
2. The entire income will be taxed in her hand for the FY 2010-11.
**
3.As such no clubbing with parents.
***
4. 80C available to NRI.
****
*
2. The entire income will be taxed in her hand for the FY 2010-11.
**
3.As such no clubbing with parents.
***
4. 80C available to NRI.
****
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