Professional tax exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2012
I Paid prevous 5 years Pending Professional Tax In f.y.2011-2012.Is this I take all amount exemption in this year.
04 March 2012
Yes, the case is covered u/s 43B which allowed deduction on payment basis.
In my view you can claim exemption of all previous 5 year in the F.Y 2011-12.
Regards
In my view you can claim exemption of all previous 5 year in the F.Y 2011-12.
Regards
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2012
Pl.Anyone tell me as a individual Assesee return filing.
04 March 2012
Deduction for profession tax,in the case of salaried employee's, is governed by section 16(iii) of the Income tax Act,1961. The deduction is allowed on payment basis subject to a maximum of Rs.2,500/- per annum irrespective of the number of years to which the amount belongs.
05 March 2012
Thanks for the correction/updation Mr, Warrier..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
