Law Commission Submits 265th Report- ‘Prospects Of Exempting Income Arising Out Of Maintenance Money Of Minor’ [Read Report]
LIVELAW NEWS NETWORK
20 March 2017 7:33 PM IST
![Law Commission Submits 265th Report- ‘Prospects Of Exempting Income Arising Out Of Maintenance Money Of Minor’ [Read Report] Law Commission Submits 265th Report- ‘Prospects Of Exempting Income Arising Out Of Maintenance Money Of Minor’ [Read Report]](https://www.livelaw.in/cms/wp-content/uploads/2015/05/Law-Commission-of-India-Logo.jpg)
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20 March 2017 7:33 PM IST
Income earned by way of interest on the amount of maintenance deposited in favour of the child does not require to be exempted from being clubbed with the income of the parent/ guardian; as such exemption, if granted, would open flood gates of tax evasion, recommended the Commission.Law Commission of India has submitted Report No; 265 titled ‘Prospects of Exempting Income arising out...
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