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Tax implicationon the income for Assessment Year in which she attained minority - Income TaxExtract One of my client's daughter attained the majority on 01/03/2020 and her taxable income is 3,24,000/- after availing benefits of chapter VI-A of Income Tax Act Now Question is - 1) whether ₹ 3,24,000/- would be Taxable income in her hands for the assessment year 2020-21 2) whether in view of she remained major for one month only during the previous year 2019 -2020 ( relating the assessment year 2020-21) her income would be ₹ 27,000/- and the remaining ₹ 2,97,000/- would be added to the income of parents having higher income for the precious year 2019 -20 on pro rata basis. There are conflicting vies. Your valuable advice is solicited.. Regds, Chhatra Jain New Delhi
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