Tax return
This query is : Resolved
09 December 2011
my brother is pursuing CA and is serving last year of his articleship. he is getting a stipend of Rs 8000. Also he is assissting my father and he gives him a share of profit of Rs 15000. so his total earning is Rs 23000. Now he wants to file his Income Tax Return for AY 2011-12.
Is it legal to earn thru family busines for a Article ?
And whether he can file a Tax Return of Rs 23000 ?
S
Is it legal to earn thru family busines for a Article ?
And whether he can file a Tax Return of Rs 23000 ?
S
09 December 2011
There is no restriction in earning an income from a Family Business for an Article. I don't think that there are any legal issues involved.
Ofcourse he can file a return for the Income earned by him.
Ofcourse he can file a return for the Income earned by him.
12 December 2011
thnk u. he wants to file his belated income tax return for AY 2011-12. is there any penalty payable for filing belated return before 31 march 2012.
also his father pays him rs 15000 per month without deducting any TDS
also his father pays him rs 15000 per month without deducting any TDS
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