Expenses allowed in hand of partner ?
This query is : Resolved
18 September 2018
Mr. A partner of a partnership firm and he withdraw monthly remuneration Rs. 3,00,000/- per month. The Question is Mr. A pays as salary or consultancy fees to his wife and son, whether this is allowed under Income Tax Act on not.
Thanks in Advance
Thanks in Advance
19 September 2018
Will be allowed if it can be proved that such payments are not for taking commercial advantage out of family relationship.
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