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Taxability

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(Querist)
16 December 2016 If an assesee is having one shop and do business of trading and his son also co assist his father in that business then how the profitability will be taxed and in whose hands.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
16 December 2016 Profitability taxed in the hands of father.
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Tina Jain

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Tina Jain (Querist)
17 December 2016 then in his son's itr no business income will be shown
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
17 December 2016 Yes, you can show salary from business
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Tina Jain

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Tina Jain (Querist)
17 December 2016 ok sir thankyou

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