Can sole proprietor take salary??

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1359 Points Posted on 26 November 2021
can sole proprietor take salary??
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On 26 November 2021 at 23:38 Report
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Sole proprietors cannot legally pay themselves a salary, as salary implies an employer-employee relationship distinct from the business owner. Attempting to record a fictitious employee salary is considered fraudulent. While you can't take a salary, sole proprietors are permitted to withdraw funds directly from the business.

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Practising CA
8954 Points Posted on 26 November 2021
No. Salary is paid by a distinct employer to a distinct employee.
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On 26 November 2021 at 23:48
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1359 Points Posted on 27 November 2021
So what if he takes salary a record it as employees salary and in actual there is no employee in his firm
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On 27 November 2021 at 05:07
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student
39 Points Posted on 27 November 2021
It is called Scam.
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On 27 November 2021 at 05:24
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1359 Points Posted on 27 November 2021
Is there any penalty for that and how the govt or IT department know that
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On 27 November 2021 at 05:29
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Profession Business
28246 Points Posted on 27 November 2021
Sole propreitor can withdraw money from firm
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On 27 November 2021 at 06:34

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