27 February 2012
Profession tax is the tax which the employer is required to deduct from the salary payable to the employee and remit the same to the ex chequer account.. so its a deduction from salary and not additional cost to the employer
27 February 2012
Yes. Deduction is governed by section 16(iii) of the Income tax Act,1961 on payment basis subject to a maximum of Rs.2,500/-per annum.
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