How to calculate Professional Tax? Professional Tax will be deducted based on Gross amount or Gross after LOP amount?
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Gross after LOP amt
thanks and regards
Hi,
If you are from delhi, Professional tax is not applicable for new delhi. If any other state mention the state so that i will share the slab rate.
And for your second question, The Professional tax is calculated on Earned gross after deduction of LOP.
Regards,
KM.
PT is a tax which is levied by the State on the Income earned by the way of profession, trade, calling or employment. This tax is levied based on slab rates depending on the Income of individual. This tax is just like Income Tax except for the fact that Income tax is collected by Central Govt and Profession tax is collected by the State Government. Any amount paid as Profession Tax is allowed as a deduction.
As the states have been empowered to levy and collect this Tax, different states Profession Tax as per different Slab Rates.
It is calculated on earned gross after deduction of LOP
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