Clubbing of income
Regulation & taxIncome on assets gifted to a spouse or minor child being taxed in the giver’s hands.
In plain terms
The reason investing in a minor’s name gives no tax advantage while they are still a minor.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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