In general, your employer includes this deduction when calculating the tax deducted at source (TDS) on your annual salary. Form 16 should reflect this amount. The standard deduction can, however, be claimed if it is not included. When Claiming the Standard Deduction, Which Documents or Bills Must Be Presented? No proof of expenses is required…
Category: Professional tax
Taxes Levied on Professionals in India
A professional tax can be defined as an indirect tax levied by the government of a state on all individuals who earn income from salaries or practice professions such as chartered accountants, company secretaries, lawyers, doctors, etc. Individuals who earn income must pay this professional tax. This type of tax must be paid by all…