https://www.taxtmi.com/acts?id=50139 The amendment requires inclusion in an individual's total income of income arising to a spouse from partnership membership and remuneration from concerns where the individual has a substantial interest, income of a minor child from partnership benefits, and income from assets transferred otherwise than for adequate consideration to the spouse, minor child, son's wife or son's minor child. It attributes income from transferred assets invested in business on a pro rata basis, designates which spouse or parent's income will include the amount, defines substantial interest by twenty per cent. thresholds, and treats partitioned converted family property as indirectly transferred assets for attribution. en-us Tue, 04 Mar 2025 17:59:25 +0530 Tue, 04 Mar 2025 17:59:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50139 The amendment requires inclusion in an individual's total income of income arising to a spouse from partnership membership and remuneration from concerns where the individual has a substantial interest, income of a minor child from partnership benefits, and income from assets transferred otherwise than for adequate consideration to the spouse, minor child, son's wife or son's minor child. It attributes income from transferred assets invested in business on a pro rata basis, designates which spouse or parent's income will include the amount, defines substantial interest by twenty per cent. thresholds, and treats partitioned converted family property as indirectly transferred assets for attribution. Act-Rules F. Acts / Amendment Acts Tue, 04 Mar 2025 17:59:25 +0530 https://www.taxtmi.com/acts?id=50139