Property which purchase in the name of Minor child and which become major then income from rent in which hand taxable ..... Major child or Parents.
Father show property in his book but return not audited.
Kindly suggest
Menu
Property purchase in the name of minor child and then major
Replies (2)
Major Child.........
Income of the minor child has to be clubbed in the income of parent having higher income, only up to the age where he doesn't attain the age of 18.
Once he attains that age, all the incomes shall be treated as his own income and shall be made taxable in his own hands.
Recent Topics :
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
Related Topics :
CAclubindia
