Proprietor salary
This query is : Resolved
vaibhav sharma
(Querist)
02 June 2015
In sole proprietorship, Is the proprietor withdrawn salary every month? If yes what is the limit or any rule?
CA R SEETHARAMAN
(Expert)
02 June 2015
Proprietor salary is not an allowable expenditure under Income tax. It will be treated as capital withdrawal, no limit for such withdrawal.
Message likes :
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Rupesh Jain
(Expert)
04 June 2015
no, prop cannot take salary its take withdraw from the capital a/c
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