Payment to directors relatives
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 April 2013
If a company pays rent to the relative of the director of company say to the wife of director, is there any problem in Income Tax being the relative of director?
CA.Sourabh Sethia
(Expert)
26 April 2013
Not a problem at all
but subject to following
1. Amount should be reasonable i.e it should not be excessive
2. should be genuine
3. actually paid or payable
but subject to following
1. Amount should be reasonable i.e it should not be excessive
2. should be genuine
3. actually paid or payable
Message likes :
1 times
26 April 2013
->Transaction should be at the rate prevailing in the market.
-> TDS & Service Tax should be appropriately taken in to consideration.
-> It should not be only book entry. Pay it regularly as per rental agreement.
->Transaction should be at the rate prevailing in the market.
-> TDS & Service Tax should be appropriately taken in to consideration.
-> It should not be only book entry. Pay it regularly as per rental agreement.
Message likes :
1 times
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