Upgrad LLM

salary invested in small scale business

Technical Consultant

Dear Sir,


I have worked as employee for the last 11 months in the current financial year(2010-11). Now, i have started a small scale business and investing the salary amount in the business.

Will i get any Tax exemption for the amount invested in the business. If yes, what will the maximum extent.


Please advice.

Regards,
Kumar V.

 
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Dear V Kumar,

There is no deduction allowed from the salary on such expenditure kind of expenditure.

I would advice you to show LOSS from the business and carry forward this loss to following years in future and off set this loss with the profits of future years.

you can consult a practicing CA he can do tax planning for you in such a manner that you will enjoy the tax benefits for loooong time.

VK Dwivedi

 
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