Profession tax in ITR 2

Hi All,


Can you pls guide where to show the Profession tax paid by the employee in schedule s of ITR 2? I didn't find any field to show it. But 'Income chargeable under the head salaries" is only after considering deductions under section 16. So pls guide how to go about it.

Suresh.K

Replies (4)

Dear,

You need not show the PT in your ITR since your "Income chargeable under the head of salaries" is netting of the PT and which must showed in your form 16. Hence You show only the necessary field required in ITR.

Thanks

Obulirajan R 

Hi Obulirajan,

If that is the case why do they want to specify Income chargeable under the head "Salaries"  as ( 1+3+4+5).

In schedule S it says

Item 1. Salary ( Excluding all exempt / non-exempt allowances, perquisites & profit in lieu of salary as they are shown separately below)

Item 2: Allowances exempt under section 10 ( Not to be included in 6 below)

Item 3: Allowances not exempt (refer Form 16 from Employer)

Item 4: Value of perquisites (refer Form 16 from Employer)

Item 5: Profits in lieu of salary (refer Form 16 from Employer)

Item 6: Income chargeable under the Head 'Salaries' (1+3+4+5)

 

Lets see this with an example also. Lets say

Item 1  = 144000

Item 2 = 100200

Item 3 = 100800

Item 4 =      -

Item 5 =      -

Item 6 ( 1+3+4+5 ) will give us '244800' but in my Form 16 It says '242400' after considering deduction towards Profession tax of 2400.

So now in Item 6 of Schedule S, Do I want to show '244800' or '242400'?  Pls clarify.

Thanks in advance

Suresh.K

Yes boss.. You have to show only Rs.242400 i.e. Sl no 6 or 8 shown in your form 16...

AGREED WITH OBULIRAJAN R

 

REGARDS,

MANOJ

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