hi sir
actually my father own a business
and it is proprietorship and not a firm
and I'll also work there....how much remunaration can he give me
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remunaration
Replies (9)
there is not any limit as per income tax act
if you dont wanna pay tax
then receive 3 lakh rs annual
if you dont wanna pay tax
then receive 3 lakh rs annual
thanks for reply....can he pay 1.5 lacs per month as remunaration to me
can anyone let me know plsss
what is turnover and net profit before your salary deduction
turnover will be 8 crores and net profit will be 50 lacs to 60 lacs
you can take 1.50 lakh per month
Dear Experts.,
Please understand to the Query. This is Proprietorship Firm not Partnership. And he is also work in that firm....
Please understand to the Query. This is Proprietorship Firm not Partnership. And he is also work in that firm....
thanks for the reply......but some people are saying we cannot take 1.5 lacs is there any particular rule for taking remunaration
Dear Venkat.,
You can't take / also the owner/father can't give you Remuneration. Bcoz, It's proprietor firm. He ll be given only Salary and it's given by reasonable only. If you are eligible to higher salary then no more ceiling...
(Partnership firms is allowed remuneration to the Partners not to others)
You can't take / also the owner/father can't give you Remuneration. Bcoz, It's proprietor firm. He ll be given only Salary and it's given by reasonable only. If you are eligible to higher salary then no more ceiling...
(Partnership firms is allowed remuneration to the Partners not to others)
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