Clubbing of income

215 views
User Avatar

1 Points Posted on 05 January 2020
what is clubbing of income
0 Reply Share Follow
On 05 January 2020 at 22:18 Report
Replies (2)
Quick Summary
Clubbing of income refers to the practice where the income earned by another person is added to your own gross total income for tax purposes. Common examples include the income of a minor child being clubbed with a parent's income, provided the child's income exceeds £1,500. Additionally, income arising from money gifted by a husband to his wife may also be clubbed with the husband's income.

User Avatar

12 Points Posted on 05 January 2020
It means the income of any other person will be included in your gross total incone
Reply
On 05 January 2020 at 22:58
User Avatar

17269 Points Posted on 06 January 2020
Welcome to Forum
Today you joined !!
Clubbing of income - Examples are -

Income of minor is clubbed with parent (either mother or father as opted initially. (Income to be clubbed will be income above 1500/-)

Income of wife included in income of husband ( This is in respect of income arising out of money gifted by husband)
1 Reply
On 06 January 2020 at 00:39

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Query on FCTRS
  2. APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
  3. Advance for supply of goods
  4. Question for members: how do you manage client doc
  5. Clarification Required on Invoicing and Receipt of
  6. SEBI Registered VS NSDL Registered RTA
  7. Income tax or capital gain tax for Resident Indivi
  8. PCIT-1 Thane Email address
  9. CA Fees deduction for non audit case allowed?
  10. 5th Letter PAN Mismatch with Surname issues still

More recent discussions | Post

Related Topics :

Loading