Profession Tax Entry


Ravijit (Accountant)     19 October 2010

Ravijit
Accountant 
 28 points

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Hello Friends,

I have a query about Profession Tax Entry, what will be the head for Profession Tax and under which group it goes & how entry is done.

Regard's

Ravi

avater

Ashok kumar (CA Final)     19 October 2010

Ashok kumar
CA Final 
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When accounting the Professional Tax:

 

Salary & Allowances A/c Dr

     To Sundry deductions A/c

     To Professional Tax A/c

     To Salary Payable A/c

 

When Making Payment

 

Professional Tax A/c   Dr

   To Bank A/c

 

Professional Tax account created and group under "Duties & Taxes"

 

- Regards

Ashok

Rangashri (student)     11 November 2015

Rangashri
student 
 21 points

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thanks

 

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swapnil margaj   28 March 2018

swapnil margaj

 2 points

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Hi Sir,

I have an query regarding annual payment of Company PTEC,

what will be the entry? it will be normal like ptrc or diffrent? and how both acccount will knockoff.

Please help.....

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PATEL RECORDS   22 May 2018

PATEL RECORDS

 2 points

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SIR CAN I DO THIS ENTRY FOR SALARY WITH PROFESSIONAL TAX.

SALARY A/C DR.               20000

PINKAL KUMAWAT A/C DR   200

 TO PINKAL KUMAWAT                 20000

  TO PROFESSIONAL TAX                 200

Vikas Acharya (System Administrator)     22 May 2018

Vikas Acharya
System Administrator 
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For Company PTEC, Debit amount to Rates & Taxes and Credit to Bank/cash account.

avater

K. CHENCHU RAMA NAIDU CMA(F) (AUDITOR & ADVOCATE)     15 September 2019

K. CHENCHU RAMA NAIDU CMA(F)
AUDITOR & ADVOCATE 
 22 points

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When accounting the Professional Tax & Salaries: Salaries & Allowances A/c ( Indirect Exps ) Dr Professional Tax (Duties & Taxes ) To Sundry deductions A/c (Salary Advance, etc., if any) To Professional Tax Payable A/c ( Current Liability ) To Employees a/cs ( Creditors for Exps ) 2) When Making Payment: Employees acs Dr Professional Tax Payable A/c Dr To Bank A/c Read more at: https://www.caclubindia.com/forum/profession-tax-entry-109274.asp


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