deduction u/s 16(iii) professional tax

Not to my knowledge.

Why do you have such doubt, ?

Is there any requirement to amend the same?

No.

i purchased a amendment book which gave the following amendment for professinal tax

professinoal tax paid by employee:

salary upto 2500- nil

2501-3500         -   Rs 60 pm

3501-5000         -   Rs 120 pm

5001-10000      -    Rs 175pm

10001and above-  Rs 200 pm for 11 mths and only on feb Rs 300

incase of professional tax paid by employer on behalf of employee:

For  employer/ dealer registered under MVAT Act 2002

whose annual turnover of sale or purchase Rs 25 lakhs or less - Rs 2000

whose annual turnover of sale or purchase exceeds Rs 25 lakhs- Rs 2500.

but when i refered TN Manoharan it did not specify any such amendment

Oh!, Actually professional tax is only in some (3) states and its different in each one...

so this is a amendment in maharastra state professional tax and not in Income tax act...

**DM

 thanks for the clarification dasharath

your most welcome.. have a nice carrier..

**DM
Crazy Accountants

can any 1 tell me how the slab of PT is applicable

Please tell the state name, so that one can answer this !

**DM
Crazy Accountants

Dear sir,

            my name is moulali  i am workin as a accountant in hyd. two year expe... in accounts but some doubt in accounts give below please send.

 salary professional tax percentages

business professional tax percentages

yes the section 16(iii) amendeded w. e. f. 1.7.09 the notification is attached

Hi SK,

You can check the following link :-

https://business.mapsofindia.com/india-tax/structure/slabs.html  

I have come across a company which deducting 1095 for half year as PT. As I understood is that, whose annual turnover of sale or purchase Rs 25 lakhs or less - Rs 2000. whose annual turnover of sale or purchase exceeds Rs 25 lakhs- Rs 250?.

Is there any rule like 1095 for half yearly?