medium10 pts · first answer countsincome-tax

Clubbing a minor child’s income

A 12-year-old child earns interest from a fixed deposit funded by her mother. How is this interest generally taxed?

A.It is exempt because the child is a minorB.It is clubbed with the income of the parent whose income is higher, subject to a small exemption per childC.It is taxed in the child’s own return at slab ratesD.It is taxed only when the child turns 18

Discussion 0

Join free to post in the discussion.

Clubbing a minor child’s income

Discussion 0

Related questions