23 June 2016
Whether the assessee and his minor child can avail the deduction u/s 54EC ie. Rs. 50.00 Lac separatelly. For example if father and his son both have LTCG of Rs. 1 Cr. can they are eligible for deduction of Rs. 50.00 Lac u/s 54EC seprarattly?
23 June 2016
you have to file separate return of each, due to you tell each earn separately, its means son have separate income from father, they have separate PAN.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
23 June 2016
Both have separate PAN. But child is minor and he has only LTCG. So I think he can not file his return individually.