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minor child attains majority

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(Querist)
28 January 2011 A minor attains majority in the mid of a financial year. He is given interest on 31 march every year.Will the interest accrued be calculated and clubbed in the hands of his parent till he attains majority? please explain.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 January 2011 if u could show accrues on 31.03 then show income in minors hand.
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Guest (Expert)
28 January 2011 No, entire income will be taxable in the hands of child who has become major on ore before 31March
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