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 ?
Menu
psdt exemption from taxable income
Replies (1)
Yes, deductible. (its profession tax only)
Recent Topics :
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
Related Topics :
CAclubindia
