POSTED BY June 4, 2012 6:49 pm COMMENTS (2)ON
An individual becomes a major on 9.1.2013 (i.e. in F.Y.2012-13). Till F.Y.2011-12,the minor’s income was clubbed with her father’s income.The queries :
1) Just as an individual is considered to be a senior citizen for a F.Y. if she completes 60 years of age anytime during the F.Y.,would the minor also be considered as an independent resident assessee for F.Y. 2012-13? If so,does it mean that a separate I.T.Return will have to be filed for her during F.Y.2012-13 incorporating the ENTIRE income earned by her during the year(including the period from 1.4.2012 to 8.1.2013 when she was a minor)?
2) Or is it that the minor will be considered a major only from 9.1.2013 and hence all her incomes from 1.4.2012 to 8.1.2013 will have to be clubbed with that of her father for F.Y.2012-13?