Implication of Tax

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Richa (Querist)
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09 April 2011 Good Afternoon to All

Respected sir pls solve my problem, here it is- Suppose me n my spouse form a pvt. ltd company and give 700000to it and get 300000(to me) n 150000(to my spouse) as a salary. what is the tax implications?

I m also getting700000p.m from an other company as profession fees.

Pls reply its urgent.

Thanks

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 April 2011 If u get 300000 n 150000 to your spouse as a salary then the same is taxable as salary in your hands.

Richa

Richa (Querist)
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09 April 2011 Thanks for the feedback Aditya..

Actually at that time i was so confused and put a wrong question in haste.

bt nw i have worked out the same.

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 April 2011 Yes the question was very confusing and hence was not answered earlier.