If father give cash rs 200000 to his daughter and daughter start properitory business and earned income from the business then income clubbed in the hands of father or not ?
3 Replies
CA CHINTAN AJMERA
(Chartered Accountant)
(2987 Points)
Replied 04 January 2009
If daughter is major then income is not clubbed in the hands of father.
CA Sudhir Halakhandi
(PRACTICING CHARTERED ACCOUNTANT)
(13401 Points)
Replied 04 January 2009
IF THE DAUGHTER IS MINOR THAN THE INCOME WILL BE CALUBBED OTHERWISE NOT.
SEE THE SECTION 64 IN THIS RESPECT .
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