Dear All,
Can u clarify me if a Proprietor or Partner Drawings amount can added as their income pls explain me.
INDRA
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 31 October 2008
Drawings are from taxed income. Therefore where does the adding back question arise?
CA Hemantkumar,M.COM,ACA,DISA,cVa.
(Chartered Accountant)
(98 Points)
Replied 31 October 2008
Drawings are household expenses on personal matters out of Taxable incomeso there is no question of adding back in income it is a part of income
srinivas
(humble devotee of saraswati)
(885 Points)
Replied 01 November 2008
Drawings cannot be added to the income of the person
srinivas
(humble devotee of saraswati)
(885 Points)
Replied 01 November 2008
Drawings cannot be added to the income of the person
Indrajit Mondal
(Service)
(142 Points)
Replied 01 November 2008
Dear Srinivas,
If Drawings cannot be added as income of the person, then the amount of Drawings how to show in the person IT File?
INDRA
CAclubindia
