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…
Tag: professional tax registration fees
Professional Tax – Meaning, Rates & Compliance
As ‘professional tax’ would have been mentioned in the payslips/Form 16, salaried employees should be familiar with it. However, they may not know what it is or why it is deducted from their salary income on their salary slips. This article thus aims at providing a clearer picture of the ‘Professional Tax’ and why it…
How Does Professional Tax Work? P Tax Slab Rates and How to Pay
Taxation for professionals In the payslips/Form 16 issued to salaried individuals who work and earn a monthly income, the term ‘professional tax’ is often referred to. Professional tax is deducted from salary income, but why? Here, you’ll find information about professional tax, including its slab, online payment, and frequently asked questions. A salaried individual who…