Regd Self Employement

[Mannu1979]

Hi,

I have to go for the extension in September,2012 and claiming my points for earning by permanent employment :- 40k and self employement : 10k.

My query is that in the policy guidance document its mentioned :-" If an applicant is self-employed and has chosen to retain the profits within the business, his/her earnings are limited to the share of the business’s net profits to which he/she is entitled."

So what does this retaining of profits within business means ? Does it mean that I cannot take out money from my business account and also do I have to show the earnings of 10k after tax deductions ?

If anyone can help in these queries I shall be really obliged.

Thanks

[Mannu1979]

Hi,

Can anyone please clear my doubt mentioned above.

I shall be really grateful for the help.

Thanks

[shargaur]

My query is that in the policy guidance document its mentioned :-" If an applicant is self-employed and has chosen to retain the profits within the business, his/her earnings are limited to the share of the business’s net profits to which he/she is entitled."

So what does this retaining of profits within business means ? Does it mean that I cannot take out money from my business account and also do I have to show the earnings of 10k after tax deductions ?

It simply means if you are 50% share holder than you can only withdraw 50% of profit not 100%.