My son is a major,student and has a PAN Card. Can I transfer some Money to his Account to buy shares in his name? Can he trade and makes short term gains with these funds suppose he has no other earnings and invests one Lakh in PPF and Tax Saving Mutual Funds. Please advise. Kiran.
RE:Tax related
by Amitabh on Jun 17, 2008 08:15 PM Permalink
Yes, you can do so.He may also save the money and invest as he likes. Any taxable income that he earns will not be clubbed in your hands as he is a major.
