Dear All,
I have a question that owner of a sole proprietoship can show him as salaried in his firm when he is running one man firm. Please reply ASAP
Thanks in advance
Amit kumar
2 Replies
Umesh Rijal
(Internal Auditor)
(909 Points)
Replied 28 January 2014
Mr. Amit sir, in sole proprietership, proprieter can draw some amount for his expenses and can be shown as drawing but salary is not payable to him.
Akash Jain
(CA Final Student)
(261 Points)
Replied 28 January 2014
No Sole Proprieter cannot show himself as getting salary.Instead he can form a HUF where he can show salary to himself as Karta of the family.
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