Refund of professional tax in itr 1
Rohit Sonare (Accountant) (79 Points)
25 May 2015Rohit Sonare (Accountant) (79 Points)
25 May 2015
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 25 May 2015
What you show as income from salary in ITR-1 is after deduction of PT. So what u can do is to revise the return to show less income [as reduced by PT u/s 16(iii)] and claim refund to that extent.
Rohit Sonare
(Accountant)
(79 Points)
Replied 26 May 2015
can i claim for refund if pt is deducted in fy 2015-16.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 26 May 2015
Oh in that case, you cannot claim deduction in FY 15. PT can be claimed as deduction u/s 16(iii) to the extent it is paid in a FY irrespective of the period for which it is paid. So in this case, you can claim this deduction for next year.
Rohit Sonare
(Accountant)
(79 Points)
Replied 26 May 2015
I would like to know more:
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 26 May 2015
Rohit Sonare
(Accountant)
(79 Points)
Replied 27 May 2015
Yes, It is clear, thanks
actually i am a fresher accountant and i have to deduct pt of employees in my office.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 27 May 2015
Oh ok, in that case, employer has to pay to the PTO of relevant jurisdiction, refer the regn cert for the same. It can be paid by cheque or even online payment is possible i think (but not sure about MP)
Aashish Agarwal
(Business - Proprietorship)
(17 Points)
Replied 27 December 2015
Respected Subject Matter Experts,
I have recently opened a proprietorship Company in Maharashtra. The Shops & Establishments License was obtained in FY15 whereas the VAT registration was done in FY16. I was told that PT registration is mandatory for VAT registration due to which I applied for PT too.
The tax officer in his certificate of registration for PT, has raised a demand for payment of PT for FY15 (along with tax + interest + penalty), FY16 (along with tax + interest + penalty) and every year henceforth.
My concern is in order to commence operations of my trade, I was required to obtain VAT number. My trade business operations have not even commenced yet. My / said proprietorship company is not having any employees except for me as an owner (without any salary).
In view of above:
1) Should I be required to pay any PT? If not, how should I formulate a reply to the demand notice of the tax officer?
2) Or, can I seek a refund or exemption on income tax to be paid while filing/in my personal income tax return against this PT paid?
Thanking you in advance,
With regards,
Aashish Agarwal.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 28 December 2015
Prakash Pawar
(4 Points)
Replied 01 April 2018
Prakash Pawar
(4 Points)
Replied 01 April 2018
sandesh patil
(2 Points)
Replied 17 December 2020
Dear SME
I am employee in an organisation, in my salary PT is deducted every month, is this tax is refundable to me.
kinjal adhia
(2 Points)
Replied 11 February 2021
Hi I am Fresher Accountant
I want know about Professional tax Deduction .
1.employer has Liability to pay Rs. 75000 yearly pt so return should be filled monthly or annually?
2. Employer deduct pt monthly base so employer has to pay monthly payment or yearly?
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