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remunaration

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Manager
9 Points Posted on 07 July 2017
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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On 07 July 2017 at 01:25 Report
Replies (9)
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accountant
953 Points Posted on 07 July 2017
there is not any limit as per income tax act
if you dont wanna pay tax
then receive 3 lakh rs annual
1 Reply
On 07 July 2017 at 01:44
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Manager
9 Points Posted on 07 July 2017
thanks for reply....can he pay 1.5 lacs per month as remunaration to me
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On 07 July 2017 at 01:55
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Manager
9 Points Posted on 07 July 2017
can anyone let me know plsss
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On 07 July 2017 at 10:33
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accountant
953 Points Posted on 07 July 2017
what is turnover and net profit before your salary deduction
1 Reply
On 07 July 2017 at 10:37
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Manager
9 Points Posted on 07 July 2017
turnover will be 8 crores and net profit will be 50 lacs to 60 lacs
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On 07 July 2017 at 16:24
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accountant
953 Points Posted on 07 July 2017
you can take 1.50 lakh per month
1 Reply
On 07 July 2017 at 16:29
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"Do the Right Thing...!!!"
128147 Points Posted on 07 July 2017
Dear Experts.,
Please understand to the Query. This is Proprietorship Firm not Partnership. And he is also work in that firm....
463 Reply
On 07 July 2017 at 16:31
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Manager
9 Points Posted on 07 July 2017
thanks for the reply......but some people are saying we cannot take 1.5 lacs is there any particular rule for taking remunaration
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On 07 July 2017 at 16:36
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"Do the Right Thing...!!!"
128147 Points Posted on 07 July 2017
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)
463 Reply
On 07 July 2017 at 16:41


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