Clubbing of Income of Husband & Wife
Clubbing of income, as the name suggests is the income of one person is clubbed with the income of the another person. Many of the persons think that if they …
clubbing of income
Income Tax on Income of Minor Child
Clubbing of Income, in simple terms means that the income of one person is clubbed in the income of the other person. This clubbing of income can be done with the income of spouse, income of minor child, income from assets transferred to son’s wife/spouse, and so on. Having stated this, the income earned by minor is also taxable under the Income Tax Act.
Know about Clubbing of Income of Husband & Wife
Clubbing of income, as the name suggests is the income of one person is clubbed with the income of the another person. Many of the persons think that if they …