Clubbing provisions

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Swami Ayyappa Nuli

TAX ADVISOR & CONSULTANT AT G.S.T SUVIDH

1372 Points Joined June 2012

A TRANSFERS A LAND TO HIS MINOR SON FOR INADEQUATE CONSIDERATION

SO INCOME ARISES ON SUCH LAND SHALL BE CLUBBED IN HANDS OF A

DOES THE DEDUCTION OF 1500 U/S 10(32) IS AVAILABLE TO A?

Replies (1)

The applicability of clubbing provisions due to inadequate consideration covers only in case of transfer to spouse and son's wife, minor is not covered here. Therefore the clubbing of the abovementioned income will be acording to section 64(1A). Therefore exemption of Rs 1500/- u/s 10 (32) will be available.