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Clubbing of income
Direct Taxation
Computation of taxable amount of income
Answers (2)
Best Answer
Clubbing Provisions u/s 64(1A) would be attracted. Total Income is as follows - Gift Income = 20,00,000 Interest Income = +13,000 Exempt u/s 10(32) = (1,500) Total Income =2011500 The income of the minor will be included in the income of that parent, whose total income is greater. Thus, Answer is c
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