Can a sole proprietor take salary from his business ? And if yes can he claim standard deduction under the salaries head while filing tax ?
Chandrakant Bendre
(student)
(312 Points)
Replied 10 July 2019
No. Owner of proprietorship firm cannot withdraw salary.
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 10 July 2019
Harshit Baheti
(344 Points)
Replied 11 July 2019
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