Which of the following statement is corr

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Target Exam

CUET

Subject

-- Accountancy Part C

Chapter

Use of Spreadsheet in Business Applications

Question:

Which of the following statement is correct about Professional tax?

Options:

It is a statutory deduction according to the legislature of the Central Government.

It is a statutory deduction according to the legislature of the State Government.

It is a statutory deduction according to the legislature of both Central and the State Government.

Professional Tax is to be paid to local authorities.

Correct Answer:

It is a statutory deduction according to the legislature of the State Government.

Explanation:

The correct answer is option 2- It is a statutory deduction according to the legislature of the State Government.

Professional Tax (Applicable in some states) (PT) : It is a statutory deduction according to the legislature of the State Government.