23 August 2014
no need to cal for minor child income but club the icnome in that parents income whose total income is more then the other parents without counting this income
23 August 2014
however, where such income is earned by the minor through manual work done by him; or activity involving application of his skill, talent or specialised know-ledge and experience, it wont be clubbed with the parent's income.
Such income shall be taxed as per normal tax rates as applicable to male/female below age of 60 years
CAclubindia
