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If both parents are earning then income of a minor child will be clubbed with

A. Income of parent having higher income

B. Proportionately with both parent's income

C. Income of parent having lower income

D. None of the above

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  1. Assessment year 2006-07 commenced on
  2. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  3. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  4. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  5. Tax' is imposed on a person by
  6. Every employer should pay fringe benefit tax within
  7. The income of previous year of an assessee is taxed during the following assessment year
  8. The rates of income tax are specified in
  9. For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
  10. Income Tax Act 1922 is a "milestone" because
  11. Which one of the following taxes is not levied by the State Government?
  12. According to Section 2(7) of Income Tax Act "Assessee" means
  13. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  14. The term "Person" includes
  15. Contribution to superannuation fund is
  16. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  17. The CBDT consists of
  18. Which of the following income is / are exempt from tax?
  19. The Income Tax Act, which is still in force in India, was enforced in
  20. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  21. The first income tax act was introduced in the year
  22. The apex body of Income Tax Department. is
  23. House Rent Allowance is exempt from tax
  24. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  25. Income of a minor will not be clubbed with his/her parent's income if
  26. Which of the following statements is incorrect?
  27. Any receipt of casual and non-recurring nature is known as casual income
  28. Uncommuted pension received by a Government employee is fully exempt from tax.
  29. No interest is available if the amount of refund of income tax paid is less than
  30. A company is considered to be resident if