If we give gift of Rs 1500000/- to major son. Then he earn money with the help of this money . Is there clubing provision will attract and the income will be clubed in fathers income or not.
Thanks
6 Replies
siddharth
(C.A.)
(175 Points)
Replied 05 September 2007
Hi,
No clubing provision will be attracted since u/s 64(1A) the word "minor son" has been used.
madhusudan
(Professional)
(267 Points)
Replied 06 September 2007
Yes, the above answers are very correct as the amount is given to his major son therefore there is no clubing
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