EASYOFFICE
EASYOFFICE

Relative transaction

This query is : Resolved 
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(Querist)
08 October 2014 can Wife (Proprietor) give a consultancy fees to her husbund for receiving services from her husbund? plz...give me reply....
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 October 2014 Yes. Can be given. If proprietorship firm fall under Rax Audit, related party disclosure will have to be made in Tax Audit Report. Fees paid should not be high when compared to market rates.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
08 October 2014 you can provided it doesn't violate section 40A(2)(a)/(b)
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