Income tax
This query is : Resolved
Querist : Anonymous
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.
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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