Punjab Govt levied Development Tax to the tune of Rs 200/- pm under provisions contained in article 276 of the constitution of India w.e.f. April,2018. Although they have named it Punjab Govt Development Tax yet it appears to be a professional tax as every professional or traders has to pay it.
My question is - whether the total paid amount (Rs 2400 per annum as Development Tax ) is exemptable from the Taxable Amount under the IT act 1961 or Not ?
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psdt exemption from taxable income
Replies (1)
Yes, deductible. (its profession tax only)
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