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Calcularion of tax of person whose birthday fall on 29th feburary

08 February 2019

Suppose a person is born on 29th feb. Now after every 4 years he will be 1 year old. Now how we will calculate his income...And do his income will always be clubbed into his parent income

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178138 Points)
Replied 08 February 2019

G8!!!

He will be 20 years young at the time of 80, like Late PM Morarji Desai.......

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CA.Pankaj Rawat (Chartered Accountant) (1381 Points)
Replied 08 February 2019

no, date of birth in income tax form has considered 4yrs instead of 1 year.after 18 years (not 18/4 years) he is liable to file Income yax return if his taxable income is above exemption limit.

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CA.Pankaj Rawat (Chartered Accountant) (1381 Points)
Replied 08 February 2019

no, date of birth in income tax form has considered 4yrs instead of 1 year.after 18 years (not 18/4 years) he is liable to file Income tax return if his taxable income is above exemption limit.