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Proprietorship company

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Accounts & Finance Manager
54 Points Posted on 18 June 2017
can we book salary to proprietor
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On 18 June 2017 at 20:39 Report
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128147 Points Posted on 18 June 2017
No...
Proprietor cannot book/account for salary in his proprietary firms. Bcoz, He is only one of the whole owner of his firm. He is the responsibility for the business. He can draw amount from drawings head or Proprietor Current Account head...
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On 18 June 2017 at 21:19
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Accounts & Finance Manager
54 Points Posted on 18 June 2017

Thanks,

Then, suppose the proprietor go for a personal loan or business loan or Home Loan, they are aksing salalry statement / bank statement. 

Please give me a right solution for the above situation loans.

N.Satchidanandam

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On 18 June 2017 at 21:27
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128147 Points Posted on 18 June 2017
This is very simple. Salary Slip is available only to Salaried person. But, Business man (Proprietor) under business/profession head only. If he/she going to any loan to give his Income Tax return statements with the back papers. It's enough to apply a loan for a business man
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On 18 June 2017 at 21:34
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Accounts & Finance Manager
54 Points Posted on 18 June 2017

Thanks sir.

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On 18 June 2017 at 22:21
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"Do the Right Thing...!!!"
128147 Points Posted on 18 June 2017
You are welcome...
463 Reply
On 18 June 2017 at 22:23


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