There is a savings interest credit of Rs. 154 in a minor's account. Will it be added with total interest income of the guardian operating the account? Also will the amount be clubbed with guardian's savings bank interest and shown under 80TTA? Or will it be shown in the Exempted Income sheet in the end of ITR2?
Example
Guardian interest 4000
of which
Guardian savings bank interest 200
Minor's savings bank interest 154
Now how to fill?
Guardian's total interest 4154 with 354 (200 + 100) under 80TTA?
Or will it go in Exempt income of specified person as Rs. 154 in EI sheet?
It will be clubbed with your income as minor's deduction is available only if minor's income is due to some professional and special talent like he is earning from dance,etc...then dedn of 1500 is allowable under Other Sources..
CAclubindia
