Salary

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Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 Sir,
I have a query,A PROPRIETOR firm made payment of 1L in march.2014 one time only to a person (Lawyer). the firm wants to show the said payment in salary
is it possible?
if yes then what should be the narration?

what is the Tax slab of salary.

Pl suggest its urgrnt
Thanks.

Sandeep Dharar

Sandeep Dharar (Expert)

06 March 2014 It should b shown as Professional Fees. If u show it as salary u have to show form16 i.e, Salary Certificate (If demanded by the govt.) in that case it will b difficult 4 u.

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 is there any way that i can show the said payment in Salary.

Sandeep Dharar

Sandeep Dharar (Expert)

06 March 2014 If u can arrange all the documents demanded by Income Tax Dept. then u can show that as salary.

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 Thanks
what documents they asks normally?

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 Because there are office boys also works in firms can we show their payment in salary head.
they takes 7k permonth each

Sandeep Dharar

Sandeep Dharar (Expert)

06 March 2014 If u shown it as Salary only in march it is very clear that it is fake. So I suggest If u wana show it as salary then break the amount in 12 months.

And if u show it as professional fees then u hv to deduct TDS u/s 194J.

I cant understand what u r asking abt office boys. explain clearly.

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 a properietor pays Rs.7k permonth to office boys can he shows the said money under salary?

Sandeep Dharar

Sandeep Dharar (Expert)

06 March 2014 If the Proprietor pays that amount 4 his own Business work, then he can shown it as salary.

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 what is the slab of TDS for salary

Sandeep Dharar

Sandeep Dharar (Expert)

06 March 2014 Same as Income Tax slab...