Explain the steps as to how Professional Tax be claimed as a deduction u/s 16(iii) by a Handicapped employee ? Does it need to be adjusted while changing a job in the state government ?
Explain the steps as to how Professional Tax be claimed as a deduction u/s 16(iii) by a Handicapped employee ? Does it need to be adjusted while changing a job in the state government ?
Under Section 16(iii), a deduction from salary can be claimed by the taxpayer on account of professional tax paid. The deduction for professional tax will be allowed in the year in which the tax is actually paid by the employee. Professional tax due but not paid cannot be claimed as a deduction from salary.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
