Clubbing of Income | Section 64 1A to Section 65 | Direct Taxation |
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
Ecommerce business strategies for beginners
Cyber Security
TensorFlow 2 0 for Deep
Instagram account types for beginners
C Game Programming development
AI Tools in 2024
Python Programming
Data Analysis skills with Excel Pivot Table
creating Instagram business account for beginners
ethical hacking
Affiliate marketing benefits for beginners
Affiliate Marketing websites for beginners
Create React JS App Tool
Facebook seo for Beginners
Data Analytics Visualization Techniques
Mediterranean chick Pea salad recipes
Affiliate Marketing fundamentals 2024 for beginners
Adobe Photoshop Complete
GA4 Google Analytics Fundamentals
Learning English Speaking
Recent
Content marketing basics for beginners
Digital marketing essentials for beginners
creating ecommerce website using wordPress
Affiliate marketing benefits for beginners
GA4 Google Analytics Fundamentals
Instagram account types for beginners
creating Instagram business account for beginners
Affiliate Marketing websites for beginners
Ecommerce business strategies for beginners
AI Tools in 2024
YouTube SEO Tools 2024
Artificial Intelligence types for beginners
Creating WhatsApp business account for beginners
Affiliate Marketing fundamentals 2024 for beginners
SEO tools for beginners
Content Marketing Strategies for beginners
C Game Programming development
Google display network strategies
Digital analytics fundamentals for beginners
Use Meta business suite for Beginners