archana pitti (accountant and auditor) (111 Points)
20 May 2015Hi Friends, My client is a Minor child , who is receiving interest from a company. And the company is also deducting TDS as my minor child has a PAN in the name of minor. So now i have clubbed this minors child income in her fathers income but i am not able to understand as to how should i claim that TDS value ...
Can i file a Minors Income Tax Return as he has his own PAN???
Please suggests some measures.
Thanx for the support
Archana (archanapitti775 @ gmail.com)
Z
( )
(2965 Points)
Replied 22 May 2015
Yes, minors income tax return can also be filed and signed by parent
Since this income is to be clubbed. File NIL return and claim refund and correspondigly include income in fathers income.
archana pitti
(accountant and auditor)
(111 Points)
Replied 30 May 2015
so in that case, the interest income on which tds is being deducted should be show in the retun of parent or in the return of minor?
Z
( )
(2965 Points)
Replied 30 May 2015
Interest income should be clubbed in the income of parent (Consequently pay tax on such income)(if applicable)
TDS is in PAN of minor so file return of minor to claim the refund
CAclubindia
