Whether a minor can file an income tax return

ITR 3074 views 3 replies

HI,

PAN CARD FOR MINOR CAN BE ISSIED SO,

CAN MINOR ACT AS INDIVIDUAL AND ELIGIBLE FOR INCOME TAX REBATE AS ADULT INDIVIDUAL SLAB.

IF I AM INVESTING IN FD OR SHARES OR PROPERTY AND GETTING BENEFIT OR INCOME OF RS 1 LAKH. THEN WHETHER THAT INCOME IS CLUBBED WITH MY INCOME OR I CAN FILE HIS RETURN AS REPRESENTATIVE AND GET TOTAL REBATE AS FROM NOW NO TAX FOR INDIVIDUAL BELOW 2 LAKFS.......

Thanks & Regards

Krishna

Replies (3)

Income of Minor Child (SEC. 64 (1A)

All income which arises or accrues to the minor child shall be clubbed in the income of his parent (Sec. 64(1A), whose total income (excluding Minor’s income) is greater. However, in case parents are separated, the income of minor will be included in the income of that parent who maintains the minor child in the relevant previous year.

Exemption to parent [Sec 10(32)]

An individual shall be entitled to exemption of Rs. 1,500 per annum(p.a.) in respect of each minor child if the income of such minor as included under section 64 (1A) exceeds that amount. However if the income of any minor child is less than Rs. 1,500 p.a. the aforesaid exemption shall be restricted to the income so included in the total income of the individual.

When Section 64(1A) is not applicable

In case of income of minor child from following sources, the income of minor child is not clubbed with the income of his parent.

  • Income of minor child on account of any manual work.
  • Income of minor child on account of any activity involving application of his skill, talent or specialized knowledge and experience.
  • Income of minor child (from all sources) suffering from any disability of the nature specified in sec 80U.

Return to be filled by REPRESENTATIVE

Assessee on the behalf of minor.

 

 

Thanks  all for your replies.... 


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