Minor kids earning money? Tax rules parents should know

Who pays the tax if a minor starts earning money? The kid, or the parents? That’s a question many face these days amid the rise of content creators.

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Ritika Nayyar, partner, Singhania & Co, says: “If a child earns money through their own effort, like performing or creating content, that income is taxed in the child’s name. But income from assets or investments made by the parents, such as fixed deposits, rent, or dividends, must be included in the parents’ taxable i