banner_ad

mionr return

Others 232 views 4 replies
One of our client having minor
child. He wants file income tax return for his child, by showing gift from relatives, what is the status it is already exempted income even it should be includable in hands of parents or we can file in mionr name showing same as income from other sources.
Replies (4)
it should be clubbed in the hands of the parent whose income is greater than the other parent
Even exempted income should include??
show it as exempt income but show the amount in the return
You can't file return in Minor's name

Income of minor you have to club either with mother or father at your option and you have to continue that in future

Income of minor is exempt upto 1500/-

Gifts received by minor from relatives are capital receipts and that's why it's not to be shown anywhere in the ITR of concerned parent.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details