Income of interest received by a minor child on a fixed deposit with a bank made out of/from the amount of scholarship received from the State Government is ______.

CS Executive · Tax Laws and Practice · PYQS · December 2020
Income of interest received by a minor child on a fixed deposit with a bank made out of/from the amount of scholarship received from the State Government is ______.
(A) exempt from tax
(B) to be clubbed with the income of father
(C) to be assessed in the hands of the minor child
(D) to be clubbed with the income of that parent whose total income, before including minor's income is higher

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Clubbing of Income

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