Minor Shruti (age 13) has following incomes; (i) Net income from Dancing ₹75,000; (ii) Interest on bank fixed deposits ₹62,000 and (iii) Cash gift from friends of her parents (non-relatives) ₹45,000. How much of her inco
CS Executive · Tax Laws · PYQS · June 2021
Minor Shruti (age 13) has following incomes; (i) Net income from Dancing ₹75,000; (ii) Interest on bank fixed deposits ₹62,000 and (iii) Cash gift from friends of her parents (non-relatives) ₹45,000. How much of her income would be clubbed with the income of her parents after deduction under section 10(32) of the Act?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
Related Questions in this Topic
- What is the base financial year for calculation for Cost Inflation Index under Income Tax Act 1961?
- During the Financial Year 2023-24 Mr. K won a lottery for ₹ 5,00,000, from this lottery income he deposited ₹ 1,50,000 i...
- Political parties are required to submit their Income Tax Return under which Form?
- The amount specified in the notice of demand under the Income Tax Act is required to be paid within __________ days, oth...
- The assessee who is not satisfied with the order of the assessing officer can: