Clubbing of Income | Income of other person included in assessees total income | Section 64 1 |
Share your inquiries now with community members Click Here
Sign up Now
Lessons List | 3 Lesson
Comments
Related Courses in Business
Course Description
Clubbing of income means including the income of any other person in Assessee's total income. ... For Example, if a husband diverts some part of his income to his wife to reduce his tax burden. Then, such transferred income of a wife is added and taxed as income of husband only and not his wife.What are the provisions regarding clubbing of income?
Clubbing of Income of Major Child
A major child is governed by the principles applicable to an individual up to 60 years of age. So, if your major child is earning income above Rs 2,50,000 (before any deduction), Then he is liable himself to file his income tax return. No clubbing of income provisions shall applyHow do you avoid clubbing of income?
To avoid the clubbing of income of the husband and wife it is therefore recommended that the husband should not make any gift to the wife of any income producing assets so also the wife should avoid making gift to her husband so as to prevent clubbing of income.
Trends
Python programming language
MS Excel
Data Entry
Learning English Speaking
Excel Course Basic to Advanced
WordPress Admin Dashboard Management
AWS terraform techniques
Hacked Facebook Account Securing
Marketing Fundamentals for beginners
AUTOMATA THEORY
English Language
Communication Skills importance
Fast Photo Tricks
Creating YouTube Channel for beginners
Deterministic Finite Automata
Mobile Apps from Scratch
Facebook business Page optimization strategies
Photoshop text masking effect methods
Advanced Excel
Google Ads audience targeting essentials
Recent
Snapchat marketing for business
Google Payment methods for beginners
Google display advertising in english
Phrase match type In google Ads
Call extensions in google Ads for beginners
Facebook hacked account recovery methods
Recover facebook password with Phone number
LinkedIn videos downloads methods
Increase youTube subscribers ways for beginners
Seo Keyword research strategies
YouTube Facebook Page Linking fundamentals
Instagram videos downloads methods
Pinterest account creation fundamentals
Hacked Facebook Account Securing
Amazon Business account creation strategies
Tik Tok business account creation for ads
Accessing gmail without sharing passwords
Flipkart Seller account setup essentials
Creating Twitter Video Ads for beginners
Facebook business Page optimization strategies