Minor's income in parent's tax calculation

Does anyone know how to deal with a minor's capital gains?

The child's income is clubbed with the mother's. This year, the child has

  • Savings interest of Rs 3,000
  • LTCG of Rs 15 lakh from mutual funds (absolute gain Rs 17 lakh and after adjusting for pre-2018 cost of acquisition it is 15 lakh)

Do we just add the child's 15 lakh LTCG to the mother's LTCG figure?
Or does it have to be reported as minor's income (like we do for savings interest) ie Rs 3,000 + Rs 15 lakh?
Can the child also benefit from the 1 lakh exemption (in addition to the mother's 1 lakh exemption)?

Replies (2)
Quick Summary
This discussion explores how a minor's capital gains are treated for tax purposes when income is clubbed with a parent's. Specifically, it questions whether the minor's long-term capital gains (LTCG) should be added directly to the mother's LTCG or reported as part of the minor's total income. The thread also seeks clarification on whether the minor can claim a separate ₹1 lakh LTCG exemption in addition to the mother's.

Clubbing of income Sec 64
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