Interest on minor's income - power conferred under Section ...

High Court Confirms Validity of Income Tax Act Section 64(1A) on Clubbing Minor's Income with Higher-Earning Parent.

July 23, 2013

Case Laws Income Tax HC

Interest on minor's income - power conferred under Section 64(1A) to club the minors income with income of the parent whose income is greater is legal and does not suffer from any legal disability - HC

View Source

← Previous Next →

Interest on minor's income - power conferred under Section ...

High Court Confirms Validity of Income Tax Act Section 64(1A) on Clubbing Minor's Income with Higher-Earning Parent.

July 23, 2013

Case Laws Income Tax HC

You may also like:

ITAT allowed taxpayer's appeal regarding Tax Collected at Source (TCS) credit for minor child's income clubbed with parent's income. While statutory amendment permitting...

Income Tax: The proposal aims to introduce a provision in Section 206C of the Income Tax Act to allow the Board to notify rules for cases where credit of tax collected...

Higher rate of tax @60% u/s 115BBE - though the alleged surrendered income is a business income but since assessee being individual having no limitation of earning...

Doctrine of mutuality - Interest earned on the bank deposits by clubs - Deposit of surplus funds by the appellant Clubs by way of bank deposits in various banks - the...

Clubbing of minor's Income to parents income - If this income were to be taxed only after the 2nd respondent attains majority, the financial burden on the 2nd petitioner...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

Clubbing of income - Assessment of capital gain of the minors in the hands of the assessee - The word “any such income” as appears in Section 64(1A) includes capital...

Additions u/s 68 - income from un-disclosed sources - Agriculture Income or not - exemption of income u/s 10(1) read with Section 2(1A) denied - onus to prove - The...

Eligibility for deduction u/s 54F - Clubbing of income of the minor children in the hands of the assessee - before arriving at net income for the purpose of clubbing in...

The existing provisions of section 230(1A) of the Income-tax Act, 1961, require obtaining a tax clearance certificate from income-tax authorities before leaving India,...

Clubbing of income of Non-resident and Permanent Establishment (PE) - Levy of surcharge at 5% as against assessee’s claim of 2% - The royalty and Fee for Technical...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

Quick Updates: