Income of minor
This query is : Resolved
15 November 2009
One of my friend is working with Govt.corporation. his gross income for A.Y. 2009-10 is below Rs.1.5 Lac. And as such his office not issued Form No.16.
His minor son is being enrolled as private finance consultant & total commission paid to minor by a institute is Rs.3.98 lacs & T.D.S. of Rs. 40235/-
kindly guide in the matter for filing I.T. return of parent.
His minor son is being enrolled as private finance consultant & total commission paid to minor by a institute is Rs.3.98 lacs & T.D.S. of Rs. 40235/-
kindly guide in the matter for filing I.T. return of parent.
16 November 2009
Minor is earning by his own expertise, therefore no need to club income in hands of parents. It is taxable in hands of minor itself.
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