professional tax

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anu

anu (Querist)
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07 July 2009 sir,
professional tax is chargeable on fixed pay or/and on performance based pay also?

Guest

Guest (Expert)

07 July 2009 The Pension Fund Regulatory and Development Authority (PFRDA) has sought income tax exemption for the New Pension Scheme at par with other schemes like Public Provident Fund (PPF).

"PPF, having a life cycle of 15 years, is under an EEE (exempt-exempt-exempt) tax regime and is not taxed at any point, whereas the New Pension Scheme, being a 30-35 years instrument, is taxed at the exit point (withdrawal)," said PFRDA Chairman Dhirendra Swarup here at the 8th Annual IIEF Pension Policy Conference and Roundtable 2008.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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07 July 2009 Hi,
It's applicable on both.

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