Whether minor's income as remuneration from partnership firm is to be taxed in his own hands or to be clubbed in parent's income?
Whether minor's income as remuneration from partnership firm is to be taxed in his own hands or to be clubbed in parent's income?
Any income earned by minor has to be merged with that of the parent. This rule applies to partnership income as well.
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Clubbed with parent's income.
minor income clubb with the parents whose income is higher before adding this income
if not earned from his /her own skill and knowledge
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
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