Itr-4 ( sole proprietory business)

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Ashish

Ashish (Querist)
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04 January 2014 Can Sole Proprietor claim his own salary expenses against his income.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 January 2014 No as you cannot pay salary to yourself.

Ashish

Ashish (Querist)
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04 January 2014 Ok if not allowed then what we have to accumlated profit year by year and use it for the Business purpose only.....

then Balance Sheet may give the wrong picture because we use sole propritor profit for family maintence also

I'm confused in this concept

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 January 2014 you can show it as withdrawals frm capital on debit side.

Ashish

Ashish (Querist)
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04 January 2014 Ya excatly right dear, thanx for solving my query....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 January 2014 you are welcome ashish.

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