Income tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
IS there any criteria for allowable of salary under income tax act.If a medicine companys turnover for the fiancial year 2009-10 is 2.5 crore,what will be the maximum limit for allowable ?
02 September 2011
It depends on the employment terms. There is bar on the managerial remuneration and no bar on salary to staff. The restriction is u/s 40A(b)
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