WebbEntertainment allowance and professional tax deduction under section 16(ii). Leave travel allowance. House rent allowance. Premium of medical insurance between ₹ 25,000 to ₹ … WebbThis Note prescribes the documentary proof required under section 16(2)(f) that must be obtained and retainedby a vendor (or the vendor’s ) agentto substantiate the vendor’s …

Professional tax / tax on employment (Section 16 (iii)

WebbLater, Form 16A certificate would be issued to Mr John stating the details. It would include the total professional fees paid, tax deducted, date of payment and tax deduction, the … WebbUnder the Income-tax Act, whatever professional tax is paid during the previous year, is deductible. Example : Suppose X, posted in Hyderabad, is required to pay Rs. 2,000 every … bandicam manual

Section 16 – Deductions from Salaries - Direct & Indirect Taxes, Tax …

Webb16 (i) Holders of permits of less than Three(3) ... with annual income of more than Rs 1,80,000/- but excluding those who are exempted under Section 31 of the Act and Entry … Webb7 apr. 2024 · All employees get a tax exemption of Rs 50 thousand U/s 16 (ia) in any tax regime. If you are also a taxpayer, then this information will be very useful to you. As everyone knows, this time the government gave a big relief to the taxpayer in the budget. Webb15 feb. 2024 · Maximum Profession Tax Amount A maximum of Rs. 2,500 can be levied as professional tax on any person per financial year. Profession Tax Is Deductible Under … arti racing meme