Clubbing of Income
This query is : Resolved
Guest
Guest
(Querist)
25 May 2009
I want to Know that A Child Income Club with his parents. but if his parents is not live then he Win 10 Lack Prize. is this income is taxable if yes, how?
25 May 2009
Please clear your Q!
25 May 2009
first of all there is no age limit in income tax for taxability of income, so minor is also taxable under the income tax act. So this income will be taxable in his hands.
25 May 2009
The provisions of clubbing will not attract here since winning a prize is on account of personal skill of minor so it will be taxable in his own hands.
Guest
Guest
(Querist)
06 July 2009
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
