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Professional Tax on partner of More than one firm

21 December 2020

I am partner in a firm having enrolled in PT paying PT regularly. Now I have started my proprietary firm and got Registered in GST. Do I have to pay PT separately for being partner as well as proprietor. What is the position of person being partner in more than one firm. Does he also have to pay PT separately for being partner in each firm ?

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Mohan Kale (376 Points)
Replied 21 December 2020

PT is required to be paid only once and not from all businesses. So, either pay from proprietary business or partnership firm.

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AUTO AGENCY (2 Points)
Replied 09 June 2021

Mohan sir we have a proprietary firm and partner in partnership firm .we have paid professional tax in partnership firm but we are unable to claim expemption in proprietary firm.please explain how to go about claiming expemption

Mohan Kale (376 Points)
Replied 09 June 2021

Partnership firm has paid for partners, not for it's own status. So, the PT is debited to partners' capital account thereby reduction in capital account. You can claim this PT as deduction from business income in your personal income tax return.