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...

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

18 March 2014 The answer is a BIG NO.
.
.
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...

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

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.
.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Avisha Sinha

Tanishka Khandelwal

venkatesh c

K.Govindarajan

Rasheed Mohd Abdul

Subscribe Now

Can a company get salary from other taxpayers???

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Article Assistant

Accountant

CA Final

GST CONSULTANT