Income tax return: Taxation rules to know while filing ITR of a minor child2 min read 25 Jun 2022, 10:50 AM IST
Income tax return: A minor can have two types of incomes — earned income and unearned income
Income tax return: There was a time when children were not met with many earning possibilities. Now a day, a good number of earning opportunities have emerged that offer part time job opportunity for a minor. But, when there is income there is liability of tax as well. According to tax and investment experts, a minor can have two types of incomes — earned income and unearned income. In both cases, income tax return (ITR) can be filed with a set of rules applicable for a minor earning individual.