During the Financial Year and in mid of a month, if I switch job then should both employers deduct my professional tax at INR 200 for that month?
From India
From India
Hi,
It is very common that multiple PT get deducted while changing the employment.. Some Organisation follow the method of deducting PT on monthly basis and rest follow every 6 months basis. However you enjoy tax exemption for the same if you fall under the purview of Income tax. According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary income
From India, Madras
947It is very common that multiple PT get deducted while changing the employment.. Some Organisation follow the method of deducting PT on monthly basis and rest follow every 6 months basis. However you enjoy tax exemption for the same if you fall under the purview of Income tax. According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary income
From India, Madras
ok so in this case, my PT would be deducted more than 2500 and I can take a tax exemption of 2500, right?
From India
From India
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
ALL ABOUT INCOME TAX FINANCIAL YEAR 2018-19.docx
Income Tax Calculator for C.G.Employees & others State Employees Financial Year 2011-2012.xls