26 March 2014
what if more professional tax has been deducted by employers. ...ie more than 2500 .. then whether employee can take deduction of if from income tax. ..
26 March 2014
As per Section 16(ii) a deduction of any sum paid by the assessee on account of a tax on employment within the meaning of clause (2) of Article 276 of The Constitution leviable by or under any law. Such deduction would usually form part of the Form 16 issued by the Employer. Since the section states that the amount should be paid if the amount is actually deducted from Employee salary the same will be allowed as a deduction from the income from salaries
CAclubindia
