INCOME OF MINOR CHILD

Income taxable. Exemption upto Rs. 1500 available.

Income Taxable. Exemption upto Rs.1,500 per child under section 10 is available.

yes it is taxable and it shall be clubbed in the income of mother or father whosoever has higher income.

exemption shall be allowed u/s 10(32) to the extent of 1500 p.a. per minor child.

agreed with experts. Clubbing provision will be applicable in this case.

It will be clubbed in the income of mother or father whose income is higher.

Exemption rs. 1500 p.a per minor child allowed u/s 10(32)

since income in form of interest from saving accnt is nt earned by a child by his own knowledge skill or manual labour, hence it is taxable by clubbing with one of the parent's income.

Income will be clubbed in the Income of either parent who's income is higher in first year of clubing.

Exemption shall be allowed u/s 10(32) to the extent of 1500 p.a. per minor child.

Exemption allowed upto Rs 1500 pa. To be clubbed in the income of mother or father, whichever income is higher.

UPTO 1500 IT IS EXEMPT

OTHERWISE TAXABLE IN THE INCOME OF PARENTS

HOWEVER, IF THE CHILD IS HANDICACAPPED OR DISABLED PHYSICALLY, THAN INCOME WILL NOT BE CLUBBED

THIS IS AS PER MY OPINION

Income Taxable. Exemption upto Rs.1,500 per child under section 10(32) is available.

INCOME IS TAXABLE AND EXEMPT UPTO 1500 PER CHILD

MAXIMUM OF TWO CHILDS

interest income is taxable & exemption is available upto rs.1500 per child

Hi, clubbing provisions will be attracted, 

even if the income from which the deposit is made, cannot be clubbed in the hands of the parent. 

(say, if the income for making the deposit was received by minor by application of skill)

Exemption of Rs1500 or income clubbed, whichever is lower, shall be available u/s 10(32)

No clubbing if child suffers from disability specified u/s 80U.

Clubbing shall be in the hands of the parent whose Total income is higher before clubbing applied. Once it is clubbed in the hands of that parent, it shall be clubbed in the hands of only that parent for any subsequent year till the minor attains majority. Only if the AO is convinced otherwise, it can be clubbed in the hands of the other parent in a subsequent year

Where the marriage of parents does not subsist, the clubbing shall be in the hands of the parent who maintains the child.

Where the minor child's parents have passed away, clubbing provisions do not attract.

Clubbing of income includes clubbing of losses of the minor.

Sorry. Kuch zyada hi bol diya.