Proffessional tax.......
Ajnas (Student) (844 Points)
14 July 2021
Proffessional tax of employer and empoyee attract is any dissallowance in income tax act?
5 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 14 July 2021
I think it is covered under section 43B and if the payment is not made before filing of return, such PT is disallowed.
Deepa B
(Practicing Chartered Accountant )
(573 Points)
Replied 14 July 2021
Professional tax is allowed only on payment basis. If it's just a book entry without actual remittance then it's not an allowed expense as per section 43B of Income tax Act 1961. Else if actually has been remitted before due date of furnishing the return then it's allowed.
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 14 July 2021
I think,It's on due basis.
only bonus is treated in Receipt basis.
Refer Sec.15.
Under New Tax Regime -115BAC -Professional Tax Paid -Not Allowed.
only bonus is treated in Receipt basis.
Refer Sec.15.
Under New Tax Regime -115BAC -Professional Tax Paid -Not Allowed.
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