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Clubbing of incomes
(for example) I am 21 years old and my father gifted ₹50k as gift and invested in share market and earned ₹20k profit, will this profit be clubbed in my fathers income?? THANKS IN ADVANCE
Replies (6)
Quick Summary
No you are adult this is your income
No it will not be clubbed. It is taxable in your hands
As you crossed 18 years the income earned on gifted property will be taxes in your hands only. if you were a minor then clubbing provisions will attract.
No it will not be Clubbed , it is taxable to you
Agrees
Clubbing does not attract to major child.
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