Hi! Can someone clarify the Professional Tax deduction?
A Director is paid remuneration per month for two different companies.
Whether we should deduct Professional Tax for both companies / any one company?

From India, Madras
A director is not an employee,He is Professional in business entity. His Professional Tax be deducted under PTEC.
From India, Vadodara
Hi Ramesh,
Can you confirm-
i) whether the Director you are discussing about is an 'employee' of these two companies or partner.
ii) is he drawing salary or any other remuneration or commission or share of profit from both these companies or only from one co.
iii) Whether both the cos are located within the same state or in two different states.
Directors can also be employees, including Executive Directors or Functional Directors, whether on the Board or outside the side there is no bar. If there are nominees from the participating stake holders such as Banks, LIC, RBI, or state or central govts etc. they may be entitled for only sitting/meeting fees + out of pocket expenses or so as they may be drawing salary from their respective employers.

From India, Bangalore
Professional tax is a tax that is levied by the state government and applies to your total salary. You can regularly discover the deduction for the same on your pay slip every month. Professional tax one source of revenue for the government and is used towards improving the services for professionals in that state.
From India, Pune

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server