Is there any maximum limit of professional tax for fin year 2019-20?
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Sec 16(iii)
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Quick Summary
ANS: Rs. 2500/-
Sec. 16(iii), a deduction of any sum paid by the assessee on account of a tax on employment within the meaning of clause (2) of article 276 of the Constitution, leviable by or under any law
Sec. 16(iii) does not prescribe any statutory limit.
Maximum levy of professional tax of Rs. 2,500/- has been given in Article 276(2) of the Constitution of India, as under,
“The total amount payable in respect of any one person to the State or to any one municipality, district board, local board or other local authority in the State by way of taxes on professions, trades, callings and employments shall not exceed two thousand and five hundred rupees per annum.”
For computation of tax liability ,no any limit of professional tax , only in constitution , 2500 limit specify.
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