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Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2012 If Son is working in fathers company ( partnership company of parents) can the son be paid salary and the amount be shown in salary and wages account head.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
21 August 2012 Yes salary can be paid to the son. However, such remuneration shall be subject to the provisions of Section 40A(2) and the AO can disallow part/whole of the salary if the same is unreasonable.
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