Income of a minor child from a Fixed deposit with a bank, made out of income earned from scholarship, is to be :

CS Executive · Tax Laws · PYQS · June 2024
Income of a minor child from a Fixed deposit with a bank, made out of income earned from scholarship, is to be :
(A) Assessed in the hands of the minor child
(B) Clubbed with the income of the parent whose total income before such clubbing is higher
(C) Exempted from tax
(D) Clubbed with father's income

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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