Accounts

THANKS FOR YOUR REPLY. BUT SUPPOSE FATHER DOES NOT WANT TO CLUB THE INCOME OF HIS MINOR CHILD AS HIS TAX LIABILITY AFTER  CLUBBING  INCOME OF THEIR CHILDREN COMES TO APPROX.RS.1,90,000/- AFTER MAKING ALL DEDUCTIONS UNDER 80 C 80D. WHERE AS WITHOUT CLUBBING INCOME OF MINOR CHILDREN HIS TAX LIABILITY FOR THE F.Y.2016-17 COMES TIO RD.40,000/- ONLY. BUT IN THE PREVIOUS YEAR 2015-2016  IT RETURN FATHER HAD CLUBBED THE INCOME OF HIS MNOR CHILD. PLEASE LET ME KNOW  CAN FATHER FILE HIS IT RETURN WITHOUT CLUBBING THE INCOME OF HIS MINOR CHILDREN IN ORDER TO  REDUCE HIS TX LIABILITY FOR THE FY 2016-2017. AS HE HAS TO FILE HIS RETURN BEFORE 31.07.2016.KINDLY ADVISE

PLEASE CLARIFY EXEMPTION LIMITE OF RS. 1500/- PERMONTH OR PER CHILD???? IT THINK IT SHOULD BE RS. 1500/-PER CHILD NOT PER MONTH. KINDLY CLARIFY.

REGARDS

RAJESH

PLEASE CLARIFY EXEMPTION LIMITE OF RS. 1500/- PERMONTH OR PER CHILD???? IT THINK IT SHOULD BE RS. 1500/-PER CHILD NOT PER MONTH. KINDLY CLARIFY.

REGARDS

RAJESH

18.07.2016

Dear Sir,

Thanks for your reply. Kindly clarify as to whether Exemption limit for clubbing minor income is Rs. 1500 per month or Rs. 1500 per annum  per child. Kindly clarify and under which section of Income taX????????