If a minor makes a profit from sale of mutual funds which is exempt u/s 10(38). Should this Income be clubbed in the hands of a parent? or the the parent can claim the exemption u/s 10(38)? Since on behalf of the minor the parent had invested this money.
Menu
Exempted income earned by minor
Replies (1)
it will be clubbed in the hands of parent whose income is higher and then such parent can show it under exempt income.
Recent Topics :
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
- Short Deduction
- Large mismatch between AIS Business Receipts and G
- Income tax on Australian Stipendiary Steward on 3
- INCOME TAX SECTION 92E
- Queries on Tax Invoice and GST
- Income Tax Auditor Tenure for Small Companies
- Sec 8 company sec 12ab reg
Related Topics :
CAclubindia
