Answer

1. F

   Facts

   Income of a minor child is generally clubbed with the income of the parent whose income is higher, except income from the child's own skill or work. Under the old regime, up to ₹1,500 per child of clubbed income is exempt; the new regime does not allow this.

2. P

   Provisions and law

   • Sec 285BB (now Sec 510)Annual Information Statement of a taxpayer's reported transactions and taxes
   • Sec 64 (now Sec 99)Clubbing of a minor's income with the parent's income
   • Sec 10(32), Income-tax Act 1961Exemption of up to ₹1,500 per minor child on clubbed income
3. A

   Analysis

   If your income is higher than your spouse's and your son's FD earned ₹18,000, you add ₹18,000 to your income, or ₹16,500 in the old regime after the ₹1,500 exemption. If the entry shows in your spouse's AIS instead, the parent with the higher income still reports it; give feedback on the AIS of the other parent if needed. Keep the FD certificate in the child's name.

4. C

   Conclusion

   1. 1Check which parent has the higher income
   2. 2Report the child's income in Schedule SPI of that parent's return
   3. 3Claim the ₹1,500 per child exemption only if you are in the old regime
   4. 4Give feedback if AIS shows it against the wrong parent

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