Can company be the employee under income tax?
1 Replies
Lisha Bansal
(CA Finalist)
(2595 Points)
Replied 27 February 2019
As per Income tax act, employee means any person (other than an apprentice) employed on a salary or wage not exceeding [twenty-one thousand rupees] per mensem in any industry to do any skilled or unskilled, manual, supervisory, managerial, administrative, technical or clerical work for hire or reward.
So, a company cannot be an employee.
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