I have a scenario where a husband generates income for his wife by trading online. Now can the wife pay a salary to husband for the service provided by the husband.
Also if the husband includes this income in his tax return, can the wife expense the salary from her income ?
Finally if the husband generated Rs 1 Lakh in profits, what is a reasonable amount to pay as salary to Husband ? 5% of profit (= Rs 5000) or 10% profit = Rs 10,000 ? What is the MAXIMUM possible salary possible in this case ?
2007-03-27
20:14:40
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5 answers
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asked by
Anonymous
in
India