Salaried employee doing business
This query is : Resolved
dheeraj kumar
(Querist)
23 August 2016
Dear sir,
I am a salaried employee, Take home salary 120000 PM. Four years back i invested 100000 Rs in my uncle's
buisness as partner (Nothing on Paper).I am even paying a staff 10000 rs pm. All these transaction were done from bank using netbanking.Now My share of profit around 3 lacks is supposed to come. Can i accept this money in my bank account by netbanking from my uncle without violating any IT norms. Or Please suggest any other way...
I am a salaried employee, Take home salary 120000 PM. Four years back i invested 100000 Rs in my uncle's
buisness as partner (Nothing on Paper).I am even paying a staff 10000 rs pm. All these transaction were done from bank using netbanking.Now My share of profit around 3 lacks is supposed to come. Can i accept this money in my bank account by netbanking from my uncle without violating any IT norms. Or Please suggest any other way...
ACA Anurag
(Expert)
23 August 2016
Dear dheeraj,
As understood u are paying 10000 pm to your staff who is working in your uncle business.
If u have paid it from your account (120000 per year) then u can take money directly in bank account.
Hope your query is resolved
As understood u are paying 10000 pm to your staff who is working in your uncle business.
If u have paid it from your account (120000 per year) then u can take money directly in bank account.
Hope your query is resolved
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