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Clubbing of minor's income

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 August 2014 A gives gift to his grand children by transfer to their bank accounts a sum of Rs 5000 every month. The amount is transferred to a FD account.
Interest earned on this money - will it be clubbed with parent;s income of the minor children?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 August 2014 yes if they are minor will be clubbed to that parent whose income is more then other spuse excluding tis income

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