Salery payment
This query is : Resolved
12 April 2016
i am a small businesman.i am paying salery @9000 per month to two employes in cash
against stamped voucher.will it be allowed by i.t dept
12 April 2016
Yes, it will be allowed. If you are a small business man and the turnover in your business does not exceed Rs. 1 Crore, you can show income @ 8% of your Sales or Gross Receipts.
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13 April 2016
Then u have to go for Audit. But still salary expenses are allowed under income tax.
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