04 December 2014
a minor received a property from his grandmother who died some years back and the minor is receiving rent on that property which exceeds Rs.10,00,000/- per annum.
my query is who has to file return for the rent received ??
04 December 2014
The Rent will be included in the income of parent which have higher income before clubbing of Income. However if parents are also not alive, then in case also income of the minor will be included in the income of legal guardian of the Minor.
05 December 2014
the situation is that the minor and his mother both stay abroad and the rent is collected in the minor`s name as the property is on his received as a gift from his grandmother and the mother of minor wants to transfer the rent from indian bank account to her american bank account.
whose dsc should be applied in form 15CA for fund transfer ??
CAclubindia
