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professional tax
what is profession tax and what is eligibility and amount of deduction in punjab..and who can be liable to deposit the tax
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What is professional Tax: Professional tax is the tax by the state governments in India. Anyone earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this professional tax.
Eligibility in Punjab: Every employee or person doing business or profession in Punjab is liable to development tax if after deduction income is above maximum exemption limit i.e. Rs. 2,50,000/-
Amount of deduction: Rs. 200/- P.M.
Person Liable:
An Employer who is liable to pay salary to person(s) who are covered under Development Tax.
Self-employed persons who are running any business and profession and they are liable for this tax.
Exempt persons:
Senior Citizens
Persons exclusively engaged in Agricultural activity
Eligibility in Punjab: Every employee or person doing business or profession in Punjab is liable to development tax if after deduction income is above maximum exemption limit i.e. Rs. 2,50,000/-
Amount of deduction: Rs. 200/- P.M.
Person Liable:
An Employer who is liable to pay salary to person(s) who are covered under Development Tax.
Self-employed persons who are running any business and profession and they are liable for this tax.
Exempt persons:
Senior Citizens
Persons exclusively engaged in Agricultural activity
my income is 2 lakh..so kya mera deduct hoga
If you belong to punjab, then No deduction
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