I am a professional and have paid my professional tax. I want to know, whether I can get deduction of the amount paid towards professional tax while filing ITR-4? How and under what catagory?
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Deduction in income tax
Replies (15)
under section 16(i) you can claim deduction for professional tax
Yes under b&p income same is allowed expense.....
sorry Archana mam section 16(I) for salaried people.. as said by Rashmi mam, you can claim deduction for professional tax paid in your p&l itself
but howto show it as expenses when you file under 44ADA presumptive income?
Show your net income after deducting such tax.... if you are giving presumptive income i.e. 50% then it is assumed that same is already deducted...
No other deduction allowed...
No other deduction allowed...
I endorse Rashmi mams reply
But what about deductions under 80C and 80 G. Are they also not allowed?
chapter viA deductions will be claimed out of total income.. whereas all other expenses incurred exclusively for the purpose of business will be deemed to be claimed if you opt for 44AD
That means deductions under 80 c and 80 g can be claimed. Thanks
yes you can claim
Yes one can claim deduction under chapter VI A of IT Act, 1961 i. e. u/s 80 C in case one opts for presumptive Income u/s 44ADA
rightly said dugar ji
You can claim all other deductions u/s VI A as usual....
only sections falls under part A of chapter VIA can be claimed
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