Salaried employee doing business
This query is : Resolved
23 August 2016
Dear sir,
I am a salaried employee, Take home salary 120000 PM. Four years back i invested 100000 Rs in my uncle's
buisness as partner (Nothing on Paper).I am even paying a staff 10000 rs pm. All these transaction were done from bank using netbanking.Now My share of profit around 3 lacks is supposed to come. Can i accept this money in my bank account by netbanking from my uncle without violating any IT norms. Or Please suggest any other way...
I am a salaried employee, Take home salary 120000 PM. Four years back i invested 100000 Rs in my uncle's
buisness as partner (Nothing on Paper).I am even paying a staff 10000 rs pm. All these transaction were done from bank using netbanking.Now My share of profit around 3 lacks is supposed to come. Can i accept this money in my bank account by netbanking from my uncle without violating any IT norms. Or Please suggest any other way...
23 August 2016
Dear dheeraj,
As understood u are paying 10000 pm to your staff who is working in your uncle business.
If u have paid it from your account (120000 per year) then u can take money directly in bank account.
Hope your query is resolved
As understood u are paying 10000 pm to your staff who is working in your uncle business.
If u have paid it from your account (120000 per year) then u can take money directly in bank account.
Hope your query is resolved
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