clubbing
This query is : Resolved
10 February 2011
in case of clubbing of income of minor child, whether total income of parents should be considered or only taxable income?for the purpose of deciding on whose income minor's income sholud be clubbed?(whichever is higher)
e.g father's total income is Rs.1000000 & out of that exempt income is Rs.700000. so taxable income is rs. 300000 only.while mothers total income(no exempt income) is 400000.so in this case whose income should be considered? pls reply urgently.
e.g father's total income is Rs.1000000 & out of that exempt income is Rs.700000. so taxable income is rs. 300000 only.while mothers total income(no exempt income) is 400000.so in this case whose income should be considered? pls reply urgently.
10 February 2011
Taxable income will be considered for clubbing provision.
So in ur case Minors income will be clubbed in the hands of mother.
So in ur case Minors income will be clubbed in the hands of mother.
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