Can a company get salary from other taxpayers???
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 March 2014
can a company get salary from other tax payers such as Individual, Firm, HUF, other companies, trusts, societies???????
Reply Soon...
Reply Soon...
18 March 2014
The answer is a BIG NO.
.
.
A company is an artificial person which is managed by Board of Directors.
.
.
A company is an artificial person which is managed by Board of Directors.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 March 2014
Thanx for replying Sir...
Can you please tell me the provision or section where in it is mentioned that being an artificial person company can`t get salary as source of income...
Can you please tell me the provision or section where in it is mentioned that being an artificial person company can`t get salary as source of income...
20 March 2014
Only a LIVING PERSON can be "EMPLOYED."
.
.
From the question raised by you it seems you WANT to pay SALARY to a COMPANY "ANYHOW" hence you are TRYING to ESTABLISH it.
.
.
The correct answer is :
.
DIRECTORS of a COMPANY are paid SALARIES because they are LIVING PERSONS employed under the company.
.
.
If you assume that a company can be paid a salary then firstly reply the following:
.
.
1. How would you make ATTENDANCE of the COMPANY as an EMPLOYEE?
.
2. How would you allow LEAVES, LEAVE TRAVEL CONCESSION, GRATUITY, PENSION, "CHILDREN EDUCATION ALLOWANCE" etc. to a COMPANY?
.
.
Hope now your doubt is clear.
.
.
.
From the question raised by you it seems you WANT to pay SALARY to a COMPANY "ANYHOW" hence you are TRYING to ESTABLISH it.
.
.
The correct answer is :
.
DIRECTORS of a COMPANY are paid SALARIES because they are LIVING PERSONS employed under the company.
.
.
If you assume that a company can be paid a salary then firstly reply the following:
.
.
1. How would you make ATTENDANCE of the COMPANY as an EMPLOYEE?
.
2. How would you allow LEAVES, LEAVE TRAVEL CONCESSION, GRATUITY, PENSION, "CHILDREN EDUCATION ALLOWANCE" etc. to a COMPANY?
.
.
Hope now your doubt is clear.
.
20 March 2014
FINALLY :
.
.
Can we gift TOYS to a BARBIE DOLL?
.
.
Hint :
.
(Toys = Salary & Barbie Doll = Employee)
.
.
Interesting, here SALARY can be really paid but the person must be in EXISTENCE to ACCEPT it physically.
.
.
Can we gift TOYS to a BARBIE DOLL?
.
.
Hint :
.
(Toys = Salary & Barbie Doll = Employee)
.
.
Interesting, here SALARY can be really paid but the person must be in EXISTENCE to ACCEPT it physically.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- Taxation on LTCG for property sold after 24JUL2024
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- LTCG for Assmt year 26-27
- Tax liability on income of freelancer
- Plot of land. Cost of Acquisition
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
