About Income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 March 2011
Respected Sir,
Sir , I am working in high school, And I have a personal classes. But the problem is , I don't have a permission to teach out side OR A taking any coaching classes. Now I show this the whole classes income is my fathers income. and I am a salaried person to teach in this classes. So my question is this income is my fathers income or it is my income.
Thanking You,
Sir , I am working in high school, And I have a personal classes. But the problem is , I don't have a permission to teach out side OR A taking any coaching classes. Now I show this the whole classes income is my fathers income. and I am a salaried person to teach in this classes. So my question is this income is my fathers income or it is my income.
Thanking You,
CA PARAS BAFNA
(Expert)
14 March 2011
You want to say that father is the proprietor of the classes and you are working as a faculty there and getting remuneration from there.
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In such a case, the income of both the institutions being received by you is treated as your income.
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Your father will be liable for tax after deducting from income such expenditures like salaries, stationery etc...
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In such a case, the income of both the institutions being received by you is treated as your income.
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Your father will be liable for tax after deducting from income such expenditures like salaries, stationery etc...
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