Salary or business income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2018
My friend have M.Com Degree, presently he is getting salary from his employer (aprox 7 to 8 lakh per annum) now he wants to receive the same amount as a business income, please suggest following. Employer is industrial engineering firm.
* Is it possible to received salary as a business income?
* For which service he has to issue bill to his employer. (Type of services for issuing of bill ?)
During current FY my friend has no other client to issue the bill.
* Is it possible to received salary as a business income?
* For which service he has to issue bill to his employer. (Type of services for issuing of bill ?)
During current FY my friend has no other client to issue the bill.
05 June 2018
yes he can do so. it is beneficial too from tax perspective. Rest I believe you should be able to figure out. Its common sense.
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