Amount is inherited to a minor child. His grandfather is appointed guardian by court untill he reach age of majority.
Grandfather deposited that money into bank.
In whose hand tax on interest income will be levied?
Does any of the guardian (Mother or Father) is alive or not
In case of minor doesn't have parent than the income will be taxable in minor because clubbing is applicable in the hands of parent and not guardian
CAclubindia
