Law panel explores income tax relief to single mothers
National  
TodayIndya


The Law Commission is examining whether or not single mothers may be alleviated of the taxation accruing on maintenance payment for a minor in an exceeding divorce settlement.

Under I-T rules, interest on cash deposited as maintenance payment for a minor is clubbed with the financial gain of the guardian. The commission, headed by Justice (retd) B S Chauhan, is anticipated to submit a report during this regard shortly, someone responsive to the matter told ET.

A reference on the topic was received by the commission recently from the geographical region and Haryana HC. in keeping with the person cited earlier, the court aforesaid associate exception against the symptom of financial gain from maintenance cash could be a “desirable thing” just in case of minor kids residing with one parent. “Circumstances of the minor having received maintenance cash area unit completely different from say a minor in UN agency's name some business has been started by either of the parent or who has been advanced some gift throughout the subsistence of wedding of fogeys,” the court aforesaid.


The court has written 2 queries for the commission: “Whether interest attained by a minor from maintenance placed in an exceedingly mounted deposit by the minor’s father ought to be treated as financial gain of the minor, and if answer to the current question is in the affirmative, whether or not interest financial gain accruing to the minor ought to be clubbed with the financial gain of the parent UN agency maintains the kid.”

 
 


 
 


 
More in National
Pakistan: Protest held in Karachi against alleged murder of Namrita Ch...

Protest gaining steam in Pakistan.   People on Tues protest took place in Karachi against the murder of a Sindhi Hindu girl, Na...

Recently posted . 9 views

Documentary On Farmer From Remote Himalayan Village Nominated For Osca...

Indian Documentary Nominated For Oscars 2019: Speaking about the documentary, Uttarakhand Chief Minister Trivendra Singh Rawat said it will inspire young people to ...

Recently posted . 5 views

Car registrations down in Delhi for first time in 6 years

Data on car registrations indicated that except in 2017, demand in Delhi has been declining gradually over the years. This year, the decline in the number of regist...

Recently posted . 5 views

Mission New India: How Modi government can achieve this goal

Narendra Modi government has been elected for the second time in a row with a massive mandate.

Recently posted . 8 views

Greater Noida man fined twice within a minute for one traffic violatio...

Rajesh Kumar Sharma, a resident of Sector 36 in Greater Noida, said he received one challan on Saturday and the other on Sunday. The timings at which the two fines ...

Recently posted . 5 views

80-Year-Old Woman Selling Idli At Just One Rupee Gets A Huge Reward Fr...

Mahindra Group Chairman Anand Mahindra tweeted a video showing Kamalathal making idlis with traditional stove, which got viral.

Recently posted . 8 views

 
 
 

Prashnavali

Thought of the day

Not how long, but how well you have lived is the main thing.
Anonymous