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Profession Tax Entry

Ravijit (Accountant) (33 Points)

19 October 2010

Hello Friends,

I have a query about Profession Tax Entry, what will be the head for Profession Tax and under which group it goes & how entry is done.

Regard's

Ravi

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7 Replies

Ashok kumar (CA Final) (587 Points)
Replied 19 October 2010

When accounting the Professional Tax:

Salary & Allowances A/c Dr

To Sundry deductions A/c

To Professional Tax A/c

To Salary Payable A/c

When Making Payment

Professional Tax A/c Dr

To Bank A/c

Professional Tax account created and group under "Duties & Taxes"

- Regards

Ashok

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Rangashri (student) (21 Points)
Replied 11 November 2015

thanks

swapnil margaj (2 Points)
Replied 28 March 2018

Hi Sir,

I have an query regarding annual payment of Company PTEC,

what will be the entry? it will be normal like ptrc or diffrent? and how both acccount will knockoff.

Please help.....

PATEL RECORDS (2 Points)
Replied 22 May 2018

SIR CAN I DO THIS ENTRY FOR SALARY WITH PROFESSIONAL TAX.

SALARY A/C DR. 20000

PINKAL KUMAWAT A/C DR 200

TO PINKAL KUMAWAT 20000

TO PROFESSIONAL TAX 200

Vikas Acharya (System Administrator) (87 Points)
Replied 22 May 2018

For Company PTEC, Debit amount to Rates & Taxes and Credit to Bank/cash account.

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K. CHENCHU RAMA NAIDU CMA(F) (AUDITOR & ADVOCATE) (27 Points)
Replied 15 September 2019

When accounting the Professional Tax & Salaries: Salaries & Allowances A/c ( Indirect Exps ) Dr Professional Tax (Duties & Taxes ) To Sundry deductions A/c (Salary Advance, etc., if any) To Professional Tax Payable A/c ( Current Liability ) To Employees a/cs ( Creditors for Exps ) 2) When Making Payment: Employees acs Dr Professional Tax Payable A/c Dr To Bank A/c Read more at: https://www.caclubindia.com/forum/profession-tax-entry-109274.asp

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