Income Tax Exemption on Professional Tax Deducted for Tamilnadu Employees
Hi Experts,
I am working on India Payroll and configured Professional Tax for Tamilnadu employees. Professional Tax is deducted correctly for the employee in the month of August and then in month of January.
However while calcuating income tax exemption system is considering only amount deducted in the month of August for the exemption upto December month and in the month of January its cosidering PTax deducted in the month of August and January both. In case of Maharashtra employees form first month its considering annual projected Professional Tax amount for Exemption.
Can anyone guide me what changes i have to do for considering projected PTax amount for exemption in case of Tamilnadu employees.
Thanks in advance.
OMKAR
As per standrad the for chennai professional tax is projected for every six months right
so it is takeing like that say the entire amount will be upto to Projection period so it is takeing for that period
We have similar issue at one of the client place that is instead of deducting the PTAX for every six months it has to be deducted
for mothly so we have changed the frequnecy of deduction from six months to monthly so than it has shown the entire project amout yearly
and lets wait for the expert views on this
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Is a home furnishings/resale and staging business eligible for tax exempt status.
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We appreciate your interest in making purchases with Best Buy and being able to save on the tax would certainly be helpful.
However, Best Buy doesn’t determine if you are eligible to make tax exempt purchases, you would need to consult with your local government to see who handles this for your area and would potentially provide your company with a Tax Exemption Certificate.
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