Tag Archives: Income of minor

Income of Minor to be received after majority not to be clubbed in the hands of Parent

By | December 15, 2015

Section 64(1)(iii) of Income Tax Act, 1961 : Income of Minor Child and Clubbing ? Facts of the Case The brother-in-law of the appellant, namely, Shri Ram Niwas Agarwal had created two trusts for the benefit of two minor children of the appellant, Kapoor Chand. One trust known as Priti Life Trust was for the… Read More »