Tax on Capital Gain Bonds purchased in the name of Minor

Share
Share This Thread
  1. GMurugan

    GMurugan New Member

    Sir, Whether the amount of deposits made in the name of minor children for a period of 5 years or 10 years in any nationalised bank is exempted for tax on capital gains. G.Murugan
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Tax on income/gains arising in the hands of the minor would be taxable in the hands of the parent.
     
  3. Sumit Agarwal

    Sumit Agarwal Active Member

    To treat it a capital gain it should be a capital assets as per income tax definition deposit to any bank is not a capital asset so no question of capital gain arises.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Buying capital gainbonds Misc. Nov 4, 2017
Capital gain account expired Misc. Jul 26, 2017
CAPITAL GAIN ACCOUNT Misc. Sep 13, 2016
tax on long term property capital gain Misc. May 18, 2016
Capital Gains Misc. May 11, 2016