Salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2009
i join the co. in jan 09..so my income was not taxable ..so i did not filed return..but my co..has deducted Professional tax from my salary for 3 months...can i take deduction of this PT in next return a.y.09-10...what should i do if want to claim this PT. ..plz give some suggestion
18 November 2009
The deduction will be allowed in the year in which the profession tax is actually paid by the employee. In other words deduction cannot be preponed or postponed. For details refer section 16(iii) of the Income tax Act,1961.
19 November 2009
Hi, salary income is calculated as under:
Gross salary XX
Less: Deduction u/s 16-
profession tax paid XX
Net taxable salary XX
hence if there is no taxable salary, there is no question of benefit u/s 16(iii). Thanks and regards, CA Shakuntala Chhangani
Gross salary XX
Less: Deduction u/s 16-
profession tax paid XX
Net taxable salary XX
hence if there is no taxable salary, there is no question of benefit u/s 16(iii). Thanks and regards, CA Shakuntala Chhangani
19 November 2009
Agree with Experts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
