What is clubbing of income? | How to report clubbed income in ITR?

Описание: When filing taxes, we often assume that income earned by one person is taxed in their hands alone. But that’s not always the case. Under the Income Tax Act, certain types of income—though received by someone else—can be added to your total income and taxed accordingly. This concept is called clubbing of income, and it usually comes into play when assets or income are transferred to close relatives like a spouse or minor child. In this video, we will learn everything about clubbing of income, when is it applicable, how to avoid it and how to report it in your ITR.

What is clubbing of income under section 64 of income tax | How to report clubbed income in ITR | How to avoid clubbing of income? | Everything about clubbing of income

Read more:
1. Clubbing of income: https://qna.tax/t/clubbing-of-income/...
2. Clubbing on gifted shares: https://qna.tax/t/is-clubbing-applica...
3. How to report clubbed income in ITR: https://qna.tax/t/how-to-report-clubb...

Chapters:
0:00 - Introduction
0:19 - What is clubbing of income?
0:58 - When is clubbing of income applicable?
2:17 - Is clubbing applicable on a minor’s demat account?
2:54 - Is clubbing applicable on assets transferred to HUFs by its members?
3:39 - Can losses also be clubbed?
4:10 - How do you report clubbed income in the ITR?
4:40 - Can I claim TDS on clubbed income?
4:56 - Closing

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