Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2016
in whose hands in below cases income is taxable (clubbing provisions)
X made a fixed deposit in a bank and directed bank to transfer interest on it to Y who is grand son of X ,
interest income = 10000
1) Y is a minor child
2) Y is major only
3)interest is transfered to support Y education
(please provide answer with reasons)
X made a fixed deposit in a bank and directed bank to transfer interest on it to Y who is grand son of X ,
interest income = 10000
1) Y is a minor child
2) Y is major only
3)interest is transfered to support Y education
(please provide answer with reasons)
01 October 2016
Hi
Income of minor will be clubbed with Parents
Refer section 64(1A)
Thanks
Income of minor will be clubbed with Parents
Refer section 64(1A)
Thanks
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 October 2016
then in whose hands income of y will be taxable in the above question (b)
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