Income tax department income tax return statistics. The professional taxes are charged on the incomes of individuals, profits of business or gains in vocations. Atleast kolkata,mumbai,pune,delhi,gujrat,chennai,bangalore,hyderabad. Professional tax slab rates in different states updated for. The professional tax amount to be paid depends on the professional tax slab rate of the particular state. It offers special privileges for women professional tax payers. Following are the persons which require itself to be registered with the professional tax department of maharashtra are. Jan 24, 20 plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax. Professional tax slab rates professional tax is a tax imposed by the state governments of india on salaried individuals, working in government nongovernment entities, or in the practice of any profession, including chartered accountants, doctors, lawyers, etc. The professional tax is charged as per the list ii of the indian constitution. Maharashtra profession tax revision july 2014 posted by gautham on july 8, 2014. Professional tax slab rates professional tax is a tax imposed by the state governments of india on salaried individuals, working in government nongovernment entities, or in the practice of any profession. In india, the professional tax is imposed at the state level. Income tax slabs for fy 2012 20 in the latest budget announcement on 16th march 2012, the financial minister, pranab mukherjee, announced raising the tax exemption limit from the curent level of rs 1.
Under the act the maharashtra state tax on professions. Maharashtra professional tax slab rate, latest news. Oct 25, 2017 in this post, we will be discussing the professional tax slab rates for different states of india and penalties charged in case of any delay in the payment. Can you please give me all india professional tax slab for financial year 2012. Allocation of gst taxpayers to state authorities as on 08. Monthly salary gross amount to be paid as professional tax per month.
Anyone earning an income from salary or anyone practicing a profession such as chartered accountant, lawyer, doctor etc. Profession tax act, 1975 maharashtra i purpose and scope the maharashtra state tax on professions, trades, callings and employments act, 1975. Professional tax is charged by respective municipal corporations and most of the states in india charge this tax. Under the act profession tax department of goods and. F 1st april 2015 monthly salary professional tax levied p. Professional tax is a tax levied by the various state governments of india on salaried individuals, working in government or nongovernment entities, or in practice of any profession, including chartered accountants, doctors, lawyers etc or carry out some form of business. May 02, 2018 professional tax slab rate in madhya pradesh. Moreover, the state may change the tax rates every year. Under the act the maharashtra state tax on professions, trades. The revised tax slabs for salaried employees in maharashtra are as follows. Madhya pradesh professional tax ptax revised slab rate. Pawar in his budget fm has increased minimum salary limit for profession tax from. Relaxation from compulsory return efiling for certain class.
Profession tax in maharashtra in maharashtra maharashtra state tax on professions, trades. However, not all the states impose this tax, the following states impose this levy in india karnataka, west bengal, andhra pradesh, maharashtra, tamilnadu, gujarat, and madhya pradesh. The state has also published a notice in the mp gazette, notification no. Frequently asked question on profession tax pt in maharashtra. Holders of permits for transport vehicles granted under the motor. If this amount is paid before june, 2011 no interest is payable.
Mar 27, 2020 professional tax interest on non payment on of professional tax, article 276. Different states have varying methods of calculating professional tax. According to section 16 iii of the income tax act 1961, the profession tax paid by an employee is allowed as a deduction from hisher gross salary income. Plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax. The professional taxes are classified under various tax slabs in india. Updated profession tax rates in maharashtra taxguru. According to section 16 iii of the income tax act 1961, the profession tax paid by an employee is. Professional tax maharashtra and form16summary of payslip. Remission of interest of the maharashtra state tax on professions, trades, callings and employments act, 1975 84.
The professional tax, in maharashtra, is regulated by the maharashtra state tax on professions. All working and selfemployed professionals whose monthly income is above rs. In this post, we will be discussing the professional tax slab rates for different states of india and penalties charged in case of any delay in the payment. However, employees with a monthly gross salary above rs. Appointment of officers of the transport department of govt. Maharashtra government has presented its additional budget on 05th. The set of professional tax slabs in india are different for all the 12 states in india and some of the states have formulated different professional tax slabs for men, women, and the senior citizens of the respective states.
Under the act profession tax department of goods and services. The professional tax rates in maharashtra for salaried employees in the state. Professional tax slab for maharashtra is changed w. Plz tell me slab of profession tax for handicapped employee in maharastra.
Profession tax is deductible under section 16 iii of the income tax act. Maharashtra government has presented its additional budget on 05th june 2014 through its deputy chief minister and finance minister shri ajit pawar in his budget fm has increased minimum salary limit for profession tax from rs. Profession tax slab for salaried employees in maharashtra. In maharashtra, this duty is applicable both on individuals and companies as laid down by the guidelines of the maharashtra professional tax act of 1975. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Every person engaged actively or otherwise in any profession, trade, callings or employment and falling under one or the other of the classes mentioned in the second column of schedule i appended to profession tax act, is liable to pay profession tax. Register for free webinar on fixed asset, tds and pdf signing software by. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. Employers are required to deduct profession tax, at prescribed rates, from. Profession tax also called tax on employment is imposed by a state under article.
Professional tax maharashtra professional tax slab in. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014. Please give me professional tax slabs and actual implement date for the same. Madhya pradesh falls under the category of states that charge professional tax. Income tax slabs for fy 201220 in the latest budget announcement on 16th march 2012, the financial minister, pranab mukherjee, announced raising the tax exemption limit from the curent level of rs 1. Every trader or professional who is in arrears of profession tax shall file a return furnishing the details of amount due by him at the rate already determined by the council under the provisions of the tamil nadu tax on professions, trades callings, and employments act, 1992 tamil nadu act 24 of 1992 which was in force for the period from 1. Professional tax is the tax by the state governments in india. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds. Schedule entry 7 of the maharashtra state tax on professions, trades, callings and employments act, 1975 170. May 21, 2012 can you please give me all india professional tax slab for financial year 2012. This form of tax is in practice for a long time and states were continue reading professional tax for the financial. In this activity, we assign a professional tax ptax rate to a slab code. Income tax department income tax return statistics assessment.
The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Taxable income in 10% slab maximum tax will be rs 32000. Professional tax slab rates in different states updated. For normal category the simple calculation is as follows. Every individual living in maharashtra, involved in any business, profession, occupation or employment is legally responsible to pay it and has to get a certificate of enrolment from the. Maharashtra professional tax slab for financial year 201617. Professional tax rates in maharashtra mumbai professional. Dealers registered under the maharashtra value added tax act, 2002, mah. As the professional tax levied by each state differs, the maximum amount that karnataka state can charge is rs. Dated 82014, amendment to profession tax rules, 1975, pdf icon. Senior citizens above the age of 65 and handicapped.
Co professional tax in maharashtra state doc download archive. Holders of permits for transport vehicles granted under. Aug 10, 2018 professional tax slab in maharashtra 201819 august 10, 2018 may 31, 2018 by rajesh m as per the maharashtra state tax on professions, trades, calling and employment act 1975 every working professional and selfemployed professionals like lawyers, doctors and chartered accountants etc need to pay professional tax to the state government. Given below is the revised professional tax slab rate for madhya. Service tax rate chart since inception and as applicable for the financial year 2014 as per service tax act and rules in india, exemption limit for small scale service provider,due date to deposit service tax in case of partnership firms and individual and due date for payment chart for other persons,various abatement available in. The government of maharashtra has introduced changes to profession tax rates effective 01july2014. I want professional tax slab from apr2001 to march 2010. Latest income tax slabs in india fy 201617 or as 201718. Dear friends, in maharashtra state, annual professional tax to be recovered is rs. Please note that the rates of profession tax are amended and the new. Ix of 2005 or dealers registered only under the central sales tax act, 1956, 74 of 1956 whose annual turnover of sales or purchases of previous year, is rupees 25 lakh or less. Professional tax slab in maharashtra 201819 august 10, 2018 may 31, 2018 by rajesh m as per the maharashtra state tax on professions, trades, calling and employment act 1975 every working professional and selfemployed professionals like lawyers, doctors and chartered accountants etc need to pay professional tax to the state government.
The madhya pradesh vritti kar adhiniyam, 1995 has put forth rules and regulations to levy profession tax in the state. The state of maharashtra has passed an act known as the maharashtra state tax on professions, trades, callings and employments act, 1975 with the purpose to collect revenue to be used in employment generation guarantee scheme. Holders of permits for transport vehicles granted under the motor vehicles act, 1988. The professional tax slab rates for the financial year 2018 2019 are. Maharashtra professional tax slab rate, latest news bankbazaar. Latest income tax slabs and rates for fy 2012 and as. Tax authority is in the best position to administer the system of tax deductibility, including. Every person, engaged actively or otherwise in any profession, trade, calling or employment and falling under one or other classes mentioned in schedule i of the maharashtra state tax on professions, trades, callings and employments act, 1975, is liable to pay, to the state government, tax prescribed under the said schedule.
As per the karnataka professional tax slab rates, all individuals with a monthly gross income less than rs. Professional tax is subject to a minimum limit of income and charged as per applicable slab rates of a state. The professional tax for some major states in india are andhra pradesh, maharashtra, gujarat, new delhi, karnataka, tamil nadu, madhya pradesh, west bengal. April 24, 2019 professional tax rates in maharashtra. Sproimgpayrollpayroll india professional tax assign amounts for professional tax deduction. Slabs are salary brackets as specified for a state by the respective state government or local authority. Professional tax interest on non payment on of professional tax, article 276. Use our free income tax calculator for getting an idea of how much tax you will.
Maharashtra, the commercial capital of india follows the following professional tax slab. The government of maharashtra of also revised its professional tax slab rates for the financial year 201516. Apr 06, 20 10 useful charts related to service tax is given below. Professional tax is a tax levied on the income earned by salaried employees and professionals, including chartered accountants, doctors and lawyers, etc.
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