A minor earned well over tax threshold amount from adsense (online) this FY and brought the money to his mum's account. Can He open a new bank account, transfer his share from his mother to this new account and file returns separately rather than filling with his mother's income ? (He has Valid PAN and Aadhaar)
4 Replies
Pranav Aggarwal
(525 Points)
Replied 10 September 2019
what is the age of minor??
as I know PAN will allot to any person if he has attained age of 18 years
as I know PAN will allot to any person if he has attained age of 18 years
Kapadia Pravin
(17259 Points)
Replied 10 September 2019
@ Floss Hype
Minor can open a bank account but it Will be operated by guardian that is father or mother.
There are exceptions from clubbing provisions under 64(1A) ---
Income earned by minor from manual work or from any activity which includes his own skill, or specialized knowledge or experience. ....
Then clubbing won't apply and minor can file return through guardian.
@ Pranav
Even a minor child of 1 month can also apply for PAN through guardian parent and obtain PAN in Minor's name.
Minor can open a bank account but it Will be operated by guardian that is father or mother.
There are exceptions from clubbing provisions under 64(1A) ---
Income earned by minor from manual work or from any activity which includes his own skill, or specialized knowledge or experience. ....
Then clubbing won't apply and minor can file return through guardian.
@ Pranav
Even a minor child of 1 month can also apply for PAN through guardian parent and obtain PAN in Minor's name.
Ashay Shah
(31 Points)
Replied 10 September 2019
Perfectly Said @ Pravin Bhai
Minors account can be opened by gaurdian and also not clubbed with the mothers income due to income earned from his oen skills bee it be by manual or knowledge.
And yes if his taxable Income exceeds 2,50,000 Rs. then definately the said minor is liable for Income Tax Payment....
Also If we goo further deep into it the child is earning the income from ecommerce so what about GST NO.
Minors account can be opened by gaurdian and also not clubbed with the mothers income due to income earned from his oen skills bee it be by manual or knowledge.
And yes if his taxable Income exceeds 2,50,000 Rs. then definately the said minor is liable for Income Tax Payment....
Also If we goo further deep into it the child is earning the income from ecommerce so what about GST NO.
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