Clubbing of minor's income

Tax queries 622 views 5 replies

Hello Friends,

What if I have minor child's income of less than Rs. 1,500. 

Can I claim exemption of Rs. 1500 straight or rule is Rs. 1500 or actual income whichever is less?

Also 1500 limit is monthly or annual?

thanks in advance!!!

Replies (5)

1500 limit is an annual limit per child.

THe section says that 1500/- or the actual income which ever is least

Hi Manoj,

 

Rs.1500 is annual limit per minor is deductable.

Rs. 1500 is not adhoc...this is max limit or actaul income whichever is low.

 

I hope this is clear to you.

Thanks

Harpreet Singh

Rs 1500/- limit is for annual and not monthly.Coming to deduction given to parents it is rs 1500/- or actual income clubbed (added to parent's income) which ever is lower

 

Agree with all Rs. 1500 is annual limit per minor child Least of Rs.1500 or actual income clubbed is exempted
Originally posted by : Karan Teli

1500 limit is an annual limit per child.

THe section says that 1500/- or the actual income which ever is least

Fully agreed....................


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