New Delhi, June 2 -- Teen cricket sensation Vaibhav Sooryavanshi has reportedly built an estimated net worth of around Rs.7 crore at just 15 years of age. Much of his wealth comes from his success on the cricket field, including IPL earnings, league contracts and brand endorsement deals. Since he is still a minor, it raises a crucial question: how does income tax work when someone has earnings at a young age?

The tax treatment of minors differs from that of adults under Indian income tax laws. In most cases, a minor's income is not taxed separately and is instead clubbed with the income of the parent who has the higher taxable income. However, there are some important exceptions.

Any person under the age of 18 is considered a minor, As ...