Minor's Parents Vs Minor's Agricultural Income

 If a minor child derives agricultural income , there is no provision under the Finance Act requring clubbing of such income with parent's total income for rate purpose. Only if minor child is assessable in respect of income derived from skill , talent, specilaised knowledge , manual work, income of minor child suffering any disability specified u/s 80U of IT Act, 1961, agricultural income  shall be aggregated to determine the rate of tax applicable to minor.

 

Published in Taxation
Views : 3015









×

  LAWyersclubindia Menu