Income on income shall not be clubbed.
Does this rule apply to minor child's income also?
Eg. Income earned by minor child(not from special talent) =15000
Interest earned by minor child from depositing the above income = 1000.
Amt. clubbed in the hands of parent will be 15000 or 16000?
4 Replies
MOHAMMED IMRAN
(1020 Points)
Replied 19 January 2019
amount clubbed in the hands of parent will be rs 16,000
PUSHP KUMAR SAHU
(CA FINAL ASPIRANT)
(3115 Points)
Replied 20 January 2019
TOTAL INCOME TO BE CLUBBED WILL BE 16000-1500( exemption u/s 10(32) .......THEREFORE INCOME TO BE CLUBBED ....WILL BE 14500 INR...
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