What are the tax laws in the case of Minor? Suppose the minor account made a profit of 2L in a year and the patent come under 20% tax slab, does minor need to pay 20%?

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The minor income is added in father or mother whose income is more.

Minor doesn't have to file separate tax returns.

'Any income that accrues or is paid to a minor is added to the parent's income under section 64(1A) and the parent will be taxed just like if it were their own income.'

Topic: Minor Demat & Trading Account Explained - IPO, Tax, NCD FAQ

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