Menu
Clubbing of income
if someone had transferred any asset to his major son without consideration. income of asset shall club to assesse or not.
Replies (3)
No
in case only income right is transferred. than sec60 will apply or not
Yes.......
As per section 60, if a person transfers income from an asset owned by him without transferring the asset from which the income is generated, then the income from such an asset is taxed in the hands of the transferor (i.e., person transferring the income).
Recent Threads
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
Related Threads
CAclubindia
