Hi Team,
I am a IT professional and wanted to know Can I invest my Salary in a Business and any Profit or Loss can be clubbed to my Income ???
Thanks Amit
Menu
Can salary be invested into a business
Replies (3)
You can do whatever you want to do with your salary ie save, invest, spend, start a new business. Thereafter, you will have to file ITR-4 and show separately your income from business.
Thanks so in case of loss can that be adjusted from my sal taxable income as well
No, PGBP losses can't be setoff from Income from Salary.
Recent Topics :
- Self assessment tax paid not reflected in ITR2 fil
- Tax on nps corpus
- Tired converting GSTR-1, 2B & 3B to Clean Exce
- TDS on under construction property not deducted
- GST on Fixed Assets
- GST ITC april 22
- GST PAYMENT REGARDING
- GST Consultation Required – June–Augus
- TDS Code for Salary Payment to Non-Resident Intern
- TDS on property
Related Topics :
CAclubindia
