Section 269ss & 29t

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 can any one pls tell me...salary expenses paid to relative (son), i have shown in 3CD under section 40(a)(2)(b)...but salary expense is allowable...then what would be the treatment ???

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 September 2013 It means actually paid to relative only and if it is more then prevailing market rates then such salary will be disallowed under sec 40(a)(2) but sec 269SS ot 269T is not applicable as no loan is advanced in cash.

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 but the son has already paid tax in his salary return...then ??....

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 September 2013 that is different issue asseement for company is different from tax paid by relatives in his different issues and ao will not consider that as main factor and may invoke said section to disallow u/s 40a.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 ok...thank you