Clubbing of Income u/s 64 Can Also be Amazing Tax Planning !

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Clubbing of income of children u/s 64(1A ) of the Income Tax Act is a law for restricting taxpayers to evade tax by distributing income.However  same clubbing provision can also be used for tax planning for young couples .The requirement is to proper observation of need in coming years,money to invest and future actions.This post is going to discuss on such tax plan in which a person can save on tax despite the clubbing of income u/s 64(1A)  . The premise on which the tax planning is based on following principles of taxation which have been ratified by Tribunals and Courts.

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