Answer below questions and predict your rank
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Can an individual have both salary and business income?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

I mean can a proprietor of a firm also have salary income simultaneously?

    1       0 Answer Now Comment Report
3 Answers
Open uri20170510 32134 4ptgjl?1494421814 answered

Hello Vandana! Yes, a person can receive both salary as well as Business Income. However, the condition beside this is that The person cannot receive the salary from his own business (i.e. proprietorship). As Ms. Dimple stated, there is no Master-Servant relationship in the proprietorship. However, if you still want to show a payment to proprietor from the business, you can do the same by paying commission income or a professional income (applicable only if he is a professional as per the income tax laws).

    1       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Being Proprietor a person cannot claim to pay salary to himself. This is because employer-employee relationship cannot be seen here. Being Proprietor only Business income should be shown that is profit from the business, But in a return of income both can be seen:- -Suppose a person has his own business but if for part time he joins in some other activities he can get salary from that. -Or if a person is owner of a business and is also a partner in some firm then his business income would be profit from own business and profit from partnership also. and also salary from the firm is shown which is exempt. But is required to be shown and then taken as an exemption. To understand or to grasp such things U need to widen ur thinking then u can really understand all such possibilities clearly.

    2       2 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Yes you can have both income from salary and business profession But as a proprietor you cannot get salary from your form. So you can show business income as a proprietor and salary income from other frim

    1       2 Comment Report
Get Notifications
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.