St-1 filing...any benefit to women proprietor?
This query is : Resolved
17 October 2011
Dear CA Friends,
My wife and I are starting a Management Consultancy and Training service and have decided on the simpler Sole Proprietorship Entity structure. However, we were wondering if there is any benefit (tax or otherwise) for my wife to be the 'Proprietor' on the ST-1 application (and for me to be the employee)...or not?
Any guidance would be much appreciated.
Thanks,
Life Skills Experts
www.LifeSkillsExperts.com
My wife and I are starting a Management Consultancy and Training service and have decided on the simpler Sole Proprietorship Entity structure. However, we were wondering if there is any benefit (tax or otherwise) for my wife to be the 'Proprietor' on the ST-1 application (and for me to be the employee)...or not?
Any guidance would be much appreciated.
Thanks,
Life Skills Experts
www.LifeSkillsExperts.com
17 October 2011
NO BENEFIT TO WOMEN IN SERVICE TAX...BENEFIT AVAILABLE ONLY IN INCOME TAX ACT 1961 (SLAB RATE BENEFIT)
18 October 2011
Women asessee will get only benefit in IT and not in any other taxes/duties....
18 October 2011
Thank you very much for clarifying this for us! Much appreciated.
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