Our director son has become major recently he has income from FDR interest above Rs 10 lacs
Does he need to pay Advance Tax and can we pay his advance tax from Father's account
The minor completes the age of 18, then the provisions for clubbing would not apply in his case and he would be assessable independently.
The Circular clarifies that a taxpayer can make electronic payment of taxes from the account of any other person. Care must be taken that while making such payment from another person's account, the Permanent Account Number (PAN) of the taxpayer on whose behalf the payment is to be made must be clearly indicated.
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