In a sole proprietorship business how do we treat salary paid to proprietor?
Salary to partner is not allowed as expense under Income Tax Act
Hi Vijay,
My question was relating to salary paid to proprietor.. and not " Partner"
Typing mistake , actually salary paid to proprietor is not allowed under Income Tax
And for accounting purpose also, passing salary entry to prop. does not make any sense
I strongly agree with Mr. Vijay, how can a proprietor pay salary to himself/herself and the same is not allowed too in Income Tax. Instead the proprietor can pay salary to any other member/spouse
Your are not logged in . Please login to post replies Click here to Login / Register
More recent discussions | Post
NovumLake Partners
Mumbai
CA
SNCO
CA Inter
Chirag N Shah & Associates
Jawahar and Associates Chartered Accountants
Hyderabad
H S SHARMA AND CO
Pune
CA Final
VNSS & Co
Others
Aliens Group
Interactive Media Pvt Ltd.
New Delhi
Modal body text goes here.
India's largest network for finance professionals
Alternatively, you can log in using: