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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Salary paid by fathers prop firm to son who is partner in partnership firm
Replies (3)
Yes it will be allowed in father's business
The question is not fathers business.
194 R as per income tax act here may be applicable depending on the circumstances of the case.
194 R as per income tax act here may be applicable depending on the circumstances of the case.
If deduction under 40b is allowed then is prop firm required to deduct tds under 194r ?
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