Salary paid by fathers prop firm to son who is partner in partnership firm

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19 Points Posted on 14 April 2023
Sir

A father is having a properitership firm and he pays salary to his son who is partner in a partnership firm. Will he be allowed as expenses in p&l of father's properiter firm as 40b section or not? Also If 194r will be applicable in case of this?
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On 14 April 2023 at 12:56 Report
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This discussion examines whether a salary paid by a father's proprietorship firm to his son, who is a partner in a separate partnership firm, is allowable as a business expense. It delves into the applicability of Section 40b of the Income Tax Act and considers whether Section 194R regarding TDS on benefits or perquisites might also apply in this scenario.

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19 Points Posted on 15 April 2023
Yes it will be allowed in father's business
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On 15 April 2023 at 00:35
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Profession Business
28246 Points Posted on 15 April 2023
The question is not fathers business.

194 R as per income tax act here may be applicable depending on the circumstances of the case.
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On 15 April 2023 at 06:52
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19 Points Posted on 16 April 2023
If deduction under 40b is allowed then is prop firm required to deduct tds under 194r ?
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On 16 April 2023 at 07:21

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