income head

116 views 7 replies
wht is the relation between father and his sons, if they work together in business for the ITR purpose?

if father is filing income from business then wht will be the income for his sons. ?
Replies (7)
it depends. if son is getting salary, then tax under salary, or if he is getting share in profit, then PGBP head

Based on registration...

The business is father's name (Proprietorship) and Son is in as Employee then Son ll be file his returns as Employee/Slary income..

If he is not Employee then he is not file his return based on Fathers business firm...

if his father file presumtive business income,then can his son file salary income?

and second case is, if only son is maintaing business then son can file business income?

Dear....

1. Yes... No more restriction if the firm is under Presumptive basis. Conditions only Employee or Not...!

2. Fathers ITR is not matter to his Son. If he is employee of the firm then he ll be file his ITR as Salary. If not Can't file his ITR as Salary based on his fathers business/Father firm's Employee...

 

they have shop, so father and son both works together, and shop is on rent
Please understand...
Employer and Employee details of business... The firm is registered for Proprietor or Any other Forms. They are called Owners...
Who is works/Serve under the form they are called employees...
The Shop is under proprietorship then Son is not a part of Business except employee....
The Firm is Partnership and Son is one of the Partner then he is part of ownership.. Otherwise no more explanation for the Sons activities in that Firm....
okk, thnku sir, i got it


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register