Clubbing of income
This query is : Resolved
21 September 2011
suppose Mr.A is the owner of commercial property & beacause of some chronic disease its not possible for him to do business on that particular property so he exercises General Power of Attorney(GPA) in favour of his son having age 20 years.
so whether clubbing & deeming provisions shall be applied or not.
so whether clubbing & deeming provisions shall be applied or not.
22 September 2011
Sorry i forget to tell that his son lets out this property & receives rent so whether deeming & clubbing provisions shall apply ?
22 September 2011
Clubbing provisions do not apply when property is transferred to a major son. They apply only when property is transferred to a minor son.
23 September 2011
Clubbing is for minor son and not for major son. There is no transfer of property directly or indirectly without consideration Therefore, the provision of Section 64 are not applicable
26 September 2011
so it means that income earned by major son under head house property would be taxed in his own hands...
26 September 2011
Yes. The income earned by the major son would be taxed in his hands.
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