SIR,
CAN A MINOR WHO HAVE HUGE AMOUNT OF INT INCOME FILE A RETURN ON HIS OWN .....IF HE HAS NO GUARDIAN............
CA HIMANSHU (ARTICLE) (317 Points)
23 March 2013SIR,
CAN A MINOR WHO HAVE HUGE AMOUNT OF INT INCOME FILE A RETURN ON HIS OWN .....IF HE HAS NO GUARDIAN............
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 24 March 2013
minor is not eligible to file incometax return because minor's income is taxable in the hands of parents who is having high taxable income or taxable in the hands of guardian or take carer of minor child
however a deduction of Rs.1500 is will be available under sec 10(32)
do u have pan for minor child?
is there any tds on interst?
is there credit for tds in 26as?
However if income earned by minor child is because of his personal skills like painting,dancing,child artist,
income tax return will be filed in the name of minor however ITR should be signed by parent/guardian
CA HIMANSHU
(ARTICLE)
(317 Points)
Replied 24 March 2013
SIR ,
IN MY CLIENT CASE MINOR HAS NO GUARDIAN (NO PARENTS OR ANY OTHER PERSON TO TAKE CARE OF HIM)
MORE OVER HE HAD TDS OF WHICH HE WANTS REFUND...
PLS REPLY
CA HIMANSHU
(ARTICLE)
(317 Points)
Replied 24 March 2013
but sir who will sign it then as minor sign has no relevance...........DO WE HAVE ANY LEADING JUDJEMENT OM THIS ISSUE (WHEN MINOR HAD NO GUARDIAN)
Pawan Mittal
(CA Final)
(702 Points)
Replied 26 March 2013
Mihir
(Wealth Manager)
(5293 Points)
Replied 26 March 2013
The minor can use section 160 of IT Act. The minor can have a representative assessee to file his return.
CA HIMANSHU
(ARTICLE)
(317 Points)
Replied 26 March 2013
hii pawanji but can u tell me me who will sighn ITR V then
CAclubindia
