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| *Loan,banking and credit>>>business tax |
This is indian income tax.whether proprietor can pay salary to two sons who help him in business? |
This is indian income tax.whether proprietor can pay salary to two sons who help him in business? Why not ???. He can pay salary to his two sons. But the salary to be reasonable and should be according to market salary. xxxYes, of course, if you can prove that there was a busniess need, sons have competent knowledge of the subject / technical or porfessional qualification, comparables with others etc I'm Tax consultant He can pay salary not only to his sons but also to his wife. Ensure you file the IT returns of these persons to whom you are paying salary. yes, you can pay salary/professional fee to any of your kins....sons/wife/daughter/dau... subject to other parameters being legal. YES if they are actually working for business. All the expenses fully laid down for business are allowable deductions under Income Tax Laws.refer to the statutory provisions at www.allindiantaxes.com |
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