Section 269ss & 29t

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 can any one pls tell me...salary expenses paid to relative (son), i have shown in 3CD under section 40(a)(2)(b)...but salary expense is allowable...then what would be the treatment ???

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

16 September 2013 It means actually paid to relative only and if it is more then prevailing market rates then such salary will be disallowed under sec 40(a)(2) but sec 269SS ot 269T is not applicable as no loan is advanced in cash.

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 but the son has already paid tax in his salary return...then ??....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

16 September 2013 that is different issue asseement for company is different from tax paid by relatives in his different issues and ao will not consider that as main factor and may invoke said section to disallow u/s 40a.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 ok...thank you

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!