Income Of A Major Child Cannot Be Clubbed With That Of His Parent In Case of NRI

[How an NRI can Avoid Clubbing of his Incomes and Wealth with that of his Spouse and Children]

A person becomes a major on the completion of 18 years. Thus at any time during any previous year if a person becomes a major, he is considered to be a major for the entire period of the previous year and not necessarily in respect of the income earned after the date of attainment of majority. This is an important aspect which should be kept in view by a taxpayer for the adoption of tax planning in the case of those minor children who are likely to attain majority in a particular year. However, if there is any income of a major child, whether son or daughter, even out of gifts made by NRI or anyone else, the clubbing provision of Section 64 would not apply. The entire income of the major child would be assessed separately and independently in the hands of the major child only.
 
How an NRI can Avoid Clubbing of his Incomes and Wealth with that of his Spouse and Children !
1. Income From Joint Accounts Or Joint Investments by NRI : Is it Liable To Be Clubbed For Tax Purposes in case of NRI ?
2. When is the income of wife liable to be clubbed with the income of her husband, and vice versa ? in case of NRI
3. When is the income of a Minor Child liable to be Clubbed with that of a Parent in case of NRI ?
4. When is the Income of Daughter-In-Law Liable to be Clubbed with that of her Father-In-Law or Mother- In-Law in case of NRI ?
5. Income of a Major Child cannot be Clubbed with that of his Parent in case of NRI
6. When is the Income Of An HUF From Self-Converted Assets Liable To Be Clubbed In The Members’ Hands in case of NRI ?
7. When is income from Assets Received on Partial Partition of an HUF liable to be Clubbed with the Income of the HUF in case of NRI ?
8. Joint Ownership Of House Property: Does It Make The Income Of A Husband, Wife, And Children Liable To Be Clubbed Together in case of NRI?
9.  How To Avoid Clubbing Of The Wife’s Wealth With That Of The Husband’s In Case Of NRI
10. Gift From Non-Relatives Now Taxed As Income In Case Of NRI
 
 
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