Can Professional Tax Be Refunded?

Who is liable for professional tax?

A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc.

are required to pay this professional tax.

Different states have different rates and methods of collection.

In India, profession tax is imposed every month..

How do you claim a tax refund?

You are required to sign in on the income tax e-filing website and raise the request for the same under the ‘My Account’ tab in the ‘service request’ option. Once you have filed your ITR and verified it, regularly check the status of your return if you have made a refund claim in the return.

What is salary for professional tax calculation?

Which states impose professional tax and what are the tax slabs?StateIncome per MonthTax Rate/Tax Amount (per month)KarnatakaUp to Rs. 15,000NilRs. 15,001 onwardsRs. 200Kerala (Half yearly income slabs and half yearly tax payment)Up to Rs.11,999NilRs.12,000 to Rs.17,999Rs.12028 more rows

Do HMRC automatically refund overpaid tax?

If you have not paid the right amount at the end of the tax year, HMRC will send you a P800 or a Simple Assessment tax calculation. Your P800 or Simple Assessment will tell you how to get a refund or pay tax you owe. … Your bill will be adjusted automatically if you’ve underpaid or overpaid tax.

What is the rule of professional tax?

Profession Tax Rates in Key States of IndiaStateIncome per MonthTax Rate/Tax Amount (p.m.)KarnatakaUp to Rs. 15,000NilRs. 15,001 onwardsRs. 200Kerala (Half yearly income slabs and half yearly tax payment)Up to Rs.11,999NilRs.12,000 to Rs.17,999Rs.12028 more rows•Apr 25, 2020

Is professional tax exempted?

Like any tax, professional tax is a source of revenue for the government. … Professional tax is a tax paid by all professionals and working individuals of companies falling under certain categories. This tax is compulsory and the amount paid towards professional tax is exempt from income tax.

Is professional tax calculated on gross salary or net salary?

Professional tax is calculated every month based on your gross salary for that month. Say your CTC is Rs. 50,000 per month, and after deduction of your EPF, gratuity, and leave deduction or payment towards any loan you may have taken from the company in the past, your gross salary comes to Rs. 40,000.

How do you know if you are entitled to a tax rebate?

How do I know if I am owed a tax rebate or refund? If you are due a tax rebate HMRC will let you know by sending you a letter called a P800 or a simple assessment letter. P800 letters can also tell you that you haven’t paid enough tax, so don’t get too excited when one comes through your letter box.

What is the benefit of paying professional tax?

Professional Tax in India Total amount of Professional Tax paid during the year is allowed as deduction under the Income Tax Act. The Professional Tax is a source of revenue for the state governments which helps in implementing schemes for the welfare and development of the region.

How is PT salary calculated?

How Professional Tax is Calculated. A professional tax is calculated on the basis of your salary and predetermined slabs. You can have to pay anything between ₹ 200 to ₹ 2500 a month.

How do I get my overpaid tax back?

If you have paid too much tax through your employment or pension and the end of the tax year in which you overpaid tax has already passed (and you have not received a P800 or need your refund urgently and can’t wait for your P800), you can make a claim for a refund. It is probably easiest to do this by writing to HMRC.

Do tax rebates happen automatically?

Tax relief does not come automatically. If you believe you are due a Tax rebate, you should contact HMRC who would be willing to help.

Why is professional tax deducted?

Profession Tax is a tax which is levied by the state on the income earned by way of profession, trade calling or employment. … In the case of salary and wage earners, the profession tax is to be deducted by the employer from salary and wages, and the employer is liable to pay it to the state government.

What does gratuity mean?

Gratuity is a lump sum amount paid by the employer to the employee as a token of appreciation for the services they have provided towards the company. It is important to know what are the eligibility and the amount of gratuity that an employee will receive.

How do I claim my tax back online?

The quickest, easiest and most convenient way to claim your tax back is online, using PAYE Services in myAccount, or through RevApp (a free mobile app, provided by Revenue, to help you manage your tax affairs on the go). If you are not already registered for myAccount, you can register on the Revenue website.

How do I file a PT return?

A step-by-step guide on how to pay professional taxHighlights.Locate the professional tax website for your state.Fill the professional tax payment form carefully.Verify the information and pay professional tax online.You can also pay this tax at the district sales tax office.

How long will LHDN to refund?

30 daysIf you are using income tax e-Filing to file your tax and you provide your bank account details correctly, you will be getting your refund credited directly into their bank accounts within 30 days after the declaration is made.

How can I reduce my professional tax?

The maximum amount of professional tax that can be levied by a state is Rs 2,500. It is usually deducted by the employer and deposited with the state government. In your income tax return, professional tax is allowed as a deduction from your salary income.

Who is exempted professional tax?

Individuals with a gross annual income of less than Rs. 2,50,00 are exempt from tax. As per the Karnataka Professional Tax Slab Rates, all individuals earning a monthly gross income of more than Rs. 15,000 are subject to a professional tax of Rs.

How do I claim money back from HMRC?

You can claim a tax refund by filling in form P50. Send this to HMRC with parts 2 and 3 of your P45. Contact HMRC (0300 200 3300) before filling in the form and they will tell you what other information you need to provide.