Geet and Jeet are two minor sons of Raghav and Riya. Business income of Raghav is ₹3,40,000 and Salary income (computed) of Riya is ₹2,50,000. Income of Geet and Jeet from stage acting is ₹60,000 and ₹70,000 respectively

Computation of Total Income of Mr. Raghav, Ms. Riya and Minor sons Geet & Jeet for A.Y. 2023-24 Particulars Raghav (₹) Riya (₹) Geet (₹) Jeet (₹) Income from Salary (Computed) - 2,50,000 - - Income from Business (Given) 3,40,000 - - - Income from Other Sources Income from stage acting - - 60,000 70,000 Interest from company deposit received by Geet (to be clubbed in the hands of Raghav after exemption of ₹1,500) (₹40,000 - ₹1,500) 38,500 - - - Interest from company deposit received by Jeet (to be clubbed in the hands of Raghav after exemption of ₹1,500 or Income to be clubbed whichever is lower - ₹1,000) (₹1,000 - ₹1,000) - - - - *where the income of any minor is less than ₹1,500 then the aforesaid exemption shall be restricted to the income so included in the total income of the individual. Gift received by Jeet on 20th August, 2022 from grandfather (Gift from a relative is not taxable) - - - - Gift received by Geet on 14th November, 2022 from Riya's friend (to be clubbed in the hands of Raghav) 60,000 - - - Gift received by Geet on 14th November, 2022 from Riya's sister is not taxable (Riya's sister is covered under Relative and gift from relative is not taxable) - - - - Income from Other Sources 4,38,500 2,50,000 60,000 70,000