minor income
This query is : Resolved
07 July 2011
which types of income can be clubbed to the natural guardian? pls explain it
07 July 2011
all income which accrues or arise to the minor shall be clubbed in the income of his parent. (Section 64(1A)
However, such individual is entitled to an exemption of Rs.1500/- in respect of each monor child if the income of such minor includible under section 64(1A) exceeds that amount.
However, such individual is entitled to an exemption of Rs.1500/- in respect of each monor child if the income of such minor includible under section 64(1A) exceeds that amount.
07 July 2011
The following will not be clubbed in the hands of any of his parent-
A. In case the minor child is suffering from any physical disability (as specified in Section 80U)
Any of his income will not be clubbed.
*
B. Income arising to minor due to manual work done by him
*
C. Income arising to the minor due to an activity involving application of his skill, talent or specialised knowledge and experience.
*
Except the above types of income, all other income like interest, etc will be added in the income of his parent.
A. In case the minor child is suffering from any physical disability (as specified in Section 80U)
Any of his income will not be clubbed.
*
B. Income arising to minor due to manual work done by him
*
C. Income arising to the minor due to an activity involving application of his skill, talent or specialised knowledge and experience.
*
Except the above types of income, all other income like interest, etc will be added in the income of his parent.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
