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of <h1>Taxation Laws Amendments: Section 64 Includes Spousal, Minor Children Income in Individual's Taxable Income</h1> Section 64 of the Income-tax Act, 1961, as amended by the Taxation Laws (Amendment) Act, 1975, includes provisions for computing an individual's total income by incorporating specific income sources related to their spouse or minor children. These include income from a spouse's involvement in a business where the individual is a partner, remuneration from a concern where the individual has a substantial interest, and income from assets transferred to a spouse or minor child without adequate consideration. The amendments also address income from partitioned property and clarify the inclusion of such income in the individual's taxable income.
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