So confused about Profession tax deduction. i want to know profession tax is decided on fixed salary of employee or actual salary?
From India, Ahmedabad
From India, Ahmedabad
6
Profestionl Tax is calculations are Based on the states as our Telangana state P.T Slabes rates are below 0- 15000/- Nil 15000 - 20000 150/- 20000/- Above 200/-
From India, Hyderabad
From India, Hyderabad
Dear Pinal, Professional Tax is payable on actual earned salary. If the employee worked for full month then it is on his/her gross salary. Regards, Suresh
From India, Thane
From India, Thane
Relevant state Government issues the slab of salary amount on which the particular given amount is required to be deducted from the actual salary earned.
for Example
Slab amount to be deducted
0- 15000/- Nil
15000 - 20000 150/-
20000/- Above 200/-
From India, Vadodara
for Example
Slab amount to be deducted
0- 15000/- Nil
15000 - 20000 150/-
20000/- Above 200/-
From India, Vadodara
As per the Andhra & Telangana state rules (as per current understanding, both the states follow the same rules), the deduction is based on salary/wage earned, monthly. The definition of wage/salary is here.
"salary or wages" includes pay, or wages, dearness allowances and all other remuneration
received by any assessee on regular basis, whether payable in cash or kind and also includes
requisitions and profits in lieu of salary as defined in section 17 of the Income-tax Act,
1961, but does not include bonus in any form and on any account or gratuity;
Suggest to bookmark this source wiki https://www.stacowiki.in for future reference as well.
From India, Bangalore
"salary or wages" includes pay, or wages, dearness allowances and all other remuneration
received by any assessee on regular basis, whether payable in cash or kind and also includes
requisitions and profits in lieu of salary as defined in section 17 of the Income-tax Act,
1961, but does not include bonus in any form and on any account or gratuity;
Suggest to bookmark this source wiki https://www.stacowiki.in for future reference as well.
From India, Bangalore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Profession Tax.doc
Profession tax rates.jpg