wht is the relation between father and his sons, if they work together in business for the ITR purpose?
if father is filing income from business then wht will be the income for his sons. ?
Ashish Khillan (Gaining knowledge) (1039 Points)
25 November 2017
namit
(zz)
(225 Points)
Replied 25 November 2017
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 25 November 2017
Based on registration...
The business is father's name (Proprietorship) and Son is in as Employee then Son ll be file his returns as Employee/Slary income..
If he is not Employee then he is not file his return based on Fathers business firm...
Ashish Khillan
(Gaining knowledge)
(1039 Points)
Replied 25 November 2017
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 25 November 2017
Dear....
1. Yes... No more restriction if the firm is under Presumptive basis. Conditions only Employee or Not...!
2. Fathers ITR is not matter to his Son. If he is employee of the firm then he ll be file his ITR as Salary. If not Can't file his ITR as Salary based on his fathers business/Father firm's Employee...
Ashish Khillan
(Gaining knowledge)
(1039 Points)
Replied 25 November 2017
RAJA P M
("Do the Right Thing...!!!")
(128004 Points)
Replied 25 November 2017
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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