EASYOFFICE
EASYOFFICE

Proprietor salary

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(Querist)
02 June 2015 In sole proprietorship, Is the proprietor withdrawn salary every month? If yes what is the limit or any rule?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 June 2015 Proprietor salary is not an allowable expenditure under Income tax. It will be treated as capital withdrawal, no limit for such withdrawal.
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Rupesh Jain

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Rupesh Jain (Expert)
04 June 2015 no, prop cannot take salary its take withdraw from the capital a/c
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