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BreakingPolicyholder Rights in Focus: What Indian Consumers Must Know Before Buying Life Insurance1/6
Topicin Taxation

Income Tax Penalty

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ITAT Delhi Relief: Father Avoids ₹12.83 Lakh Penalty on Minor's ₹1.17 Crore Income
Taxation

ITAT Delhi Relief: Father Avoids ₹12.83 Lakh Penalty on Minor's ₹1.17 Crore Income

The Income Tax Appellate Tribunal (ITAT) Delhi has provided relief to a father, overturning a ₹12.83 lakh penalty imposed due to his minor child earning ₹1.17 crore in interest income. The tribunal ruled that the income should not be clubbed with the father's income for penalty purposes.

44d ago·1 min readListen
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