IT Prob

Ketan Kapoor (Audit) (124 Points)

11 July 2011  

Q.There was a 9 years old child who received a prize of Rs. 300000 out of his skill and competence,but TDS was deducted.Thus in order to awail refund his parents filled his Income Tax return last year.Now that amount was invested in FD and this year he has received intt on that.will this intt be clubbbed in his parents income?
Q.In the above mentioned ques TDS has been deducted on the intt on FDRs and Form 16A DEPICTS THE pan no. of minor.will there be any problem in taking credit of that intt by his parents?