how the income of a minor child is included in his parents income??
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Minor child
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Income of Minor child will be included in parents income whose income is highter.
However, there is a exemption of INR 1500 per minor child income is available to parent. u/s 64 (1A) of IT act 1961
thank u
In addition to above answer-
If Minor child has Casual Income and such income is to be clubbed, in that case exemption of INR 1500 U/S 10(32) shall be allowed or not is controversial
If Minor child has Casual Income and such income is to be clubbed, in that case exemption of INR 1500 U/S 10(32) shall be allowed or not is controversial
ok....thank uu
welcome
There are some exceptions to this.
When a child earns an income by way of any work or from an activity for which he uses special talent or knowledge, the minor is required to file an income tax return.
When a child earns an income by way of any work or from an activity for which he uses special talent or knowledge, the minor is required to file an income tax return.
okkk.. thank uu
Nishant correct yourself.
Return shall be filed by his father as his guardian!
Return shall be filed by his father as his guardian!
it will be included in parents income
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