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. Gujarat professional tax slab rate how to register. This form of tax was first levied in india in the year 1949 and the power to levy professional tax. Can anybody please provide me the slab of professional tax in maharashtra awaiting for your reply and thanks in advance. Deduction of halfyearly profession tax in chennai part i posted by gautham on february 4, 20.
Javascript must be enabled in order for you to use the site in standard view. This form of tax is in practice for a long time and states were continue reading professional tax for the financial. It is subject to a minimum limit of earning and levied as per the states applicable slab rates. Service tax rate chart since inception and as applicable for the financial year 20 14 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. Frequently asked question on profession tax pt in maharashtra. Professional tax slab in madhya pradesh have been revised in state finance budget 2018. Oct 22, 2012 professional tax is charged by respective municipal corporations and most of the states in india charge this tax. In schedule i appended to the maharashtra state tax on professions. Updated profession tax rates in maharashtra taxguru. The commissioner of printing, stationery and stores purchase department, andhra pradesh, hyderabad shall supply 100 copies of the notification to this department and 500 copies to the commissioner of commercial taxes, andhra pradesh, hyderabad.
In this blog, let us see the due date for payment of professional tax of employee, professional tax payment due date in maharashtra, professional tax due date in tamil nadu, pt payment due date in kolkata and professional tax. Profession tax is the tax levied and collected by the state governments in india. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. The professional tax rates in maharashtra for salaried employees in the state. However, employees with a monthly gross salary above rs. Revised rates of professional tax in maharashtra greythr. The assam professions, trades, callings and employments. Profession tax on employees in maharashtra, profession tax return filing date, profession tax slabs in maharashtra, profession al tax slab mumbai, profession al tax slabs, profession al tax slabs all states, profession al tax slabs maharashtra, pt slab.
Co professional tax in maharashtra state doc download archive. The professional tax slab rates on salary and wages in maharashtra are as follows. Professional tax is a tax levied on the income earned by salaried employees and professionals, including chartered accountants, doctors and lawyers, etc. Amendment in profession tax slabs maharashtra govt, has amended profession tax act wef 1. Latest income tax slabs in india fy 201617 or as 201718.
However, the maximum professional tax that may be levied by any state has been capped at rs 2500. Use our free income tax calculator for getting an idea of how much tax you will be saving compared to last year per the latest tax rates. Maharashtra profession tax revision july 2014 posted by gautham on july 8, 2014. As per new notification, entities having a professional tax liability of more than rs. It is quite similar to the one in 20 14 with some minor changes. Professional tax is a tax which is levied by the state on the income earned by way of profession, trade, calling or employment. Under the act profession tax department of goods and. Professional tax applicable on partnership firm resolved. Professional tax maharashtra professional tax slab in. Exempted individuals in maharashtra from professional tax. Collection of professional tax in maharashtra has registered a. There is no other benefit as compared to previous financial year. Jan 08, 2019 new professional tax slab in west bengal, 2014 updated on january 8, 2019 scheduled rates of professions tax to be recovered by ddo from the salary and wages earners as per the west bengal state tax on professions, trades, callings and employment act, 1979, commonly known as profession tax act. Please note that the rates of profession tax are amended and the new.
A few categories of individuals can claim exemption from paying professional tax. Salaried, selfemployed individuals, and companies in maharashtra are levied with professional taxes on their income from several sources. Income tax slab rates for fy 201819 ay 201920 february 2, 2018. The revised tax slabs for salaried employees in maharashtra are as follows. Professional tax rate for 201112 in maharashtra resolved. The limit of turnover of salepurch for registration for dealers other. Professional tax rates for the fy 201920 wealthtechspeaks. Profession tax pt is levied by local authorities such as city corporations and municipalities on employees and employers.
Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance products, for the financial year 20 14. 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. This form of tax is in practice for a long time and states were continue reading professional tax. Updated professional tax rates in maharashtra pt tax. Jul 10, 20 hi is professional tax applicable on partnership firm or on numbers of partners plz let me know abt tax slab. As this tax is a state subject, the rate of profession tax varies from one state to another. The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here free income tax calculator for calculating tax for 201819. What is the slab of professional tax of assam answers. Income tax slabs for financial year 2014 goodreturns. Let us see more about the due dates for profession tax payment and professional tax meaning. Profession tax deducted from the employees salary according to slab rate. While some states might charge it as a percentage value, other states tend to charge it as a fixed amount based on income slabs. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too.
History of p t act profession tax introduced in the year 1975 with a view to raise the resources needed for implementing the employment guarantee scheme of the m. The total amount of professional tax paid during the year is allowed as deduction under the income tax act. Apr 06, 20 10 useful charts related to service tax is given below. This tax is to be paid to the respective corporation municipality in which the company is situated. Deduction of halfyearly profession tax in chennai part i. Maharashtra govt, has amended profession tax act w.
Maharashtra professional tax slab for financial year 201617. The tax has to be paid to the state government and the professional tax amount to be paid depends on the income of the individual in accordance with the income tax slab rates of that state. The professional tax slab rates are revised every fiscal year and can be paid online by nonsalaried persons. The professional tax for some major states in india are andhra pradesh, maharashtra, gujarat, new delhi, karnataka, tamil nadu, madhya pradesh, west bengal. What is professional tax and professional tax slab rate in india. Dear sir kindly give me the professional tax slab rate financial yer 2010 11. Professional tax rates for andra pradesh, assam, chhattisgarh, gujarat, karnataka, kerala, mp, maharashtra, orissa, tn, tripura. Please click on the links below to view the income tax also written shortly as i. Under the act profession tax department of goods and services. Marginal rise in professional tax collection in 201516 the. Profession tax act, 1975 maharashtra i purpose and scope the maharashtra state tax on professions, trades, callings and employments act, 1975 profession tax act has come into. Latest income tax slabs and rates for fy 2012 and as 2014. Maharashtra professional tax amendment in ptec and ptrc.
Professional tax is to be paid by both salaried and selfemployed individuals, who work in government or private organizations or any other modes of employment. Block will be used to display browser versions to be supported by portal. This is the income tax slabs for financial year 2012 and the analysis year 20 14. New profession tax rates after maharashtra government budget and provisions. The commercial taxes department of a stateunion territory is the nodal agency which collects profession tax on the basis of predetermined tax slabs which vary for each state and union territory. 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. Amendments to maharashtra value added tax act, sugarcane purchase tax act, profession tax act and entry tax rules.
Professional tax slab rates state wise in india 201920 july 18, 2019 may 7, 2019 by rajesh m here you can find state wise professional tax slab rates of each state in india for 201920. Tds calculation sheet in excel and slabs for fy 2014 and. Employer is liable to pay tax irrespective of deduction. Maharashtra government has presented its additional budget on 05th june 2014 through. Income tax department has issued a circular about tds on salary and all the aspects of income tax on salary, different circulars and notifications, forms, deduction on salary etc. The maharashtra tax on entry of motor vehicles into local areas act,1987. As per the latest professional tax slab in maharashtra 201819 there is no need to pay professional tax up to a salary of 7500 rs, from 7501 rs to 0 rs there is a professional tax of 175 rs and for above 0 rs there is a professional tax. Professional tax is levied through predetermined tax slabs and is paid on a monthly basis. The maharashtra state tax on profession, trades, callings. 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. Rs 1,944 crore in 2012 and rs 2,146 crore in 2014, as per rti. Professional tax rates in maharashtra t he state of maharashtra has passed an act known as the maharashtra state tax on professions, trades, callings and employments act, 1975.
How to post professional tax entries in tally, professional tax, pt entries in tally erp 9, how to clear professional tax payable amount, due date of professional tax return,last date for filing. Accurate professional tax slabs, benefits for tamil nadu. Oct 15, 2012 income tax slab rates for financial year 2012 20 i. In section 12b of the maharashtra purchase tax on sugarcane act, 1962, in clause e, for the word and figures year 20 14 the words and figures years 20 14 and 201415 shall be substituted.
Selfemployed persons who carry out their profession or trade on their own and fall in the ambit of profession tax are liable to pay the tax themselves to the state government. Professional tax is a tax levied by the various state governments of india on. Professional tax in india statewise professional tax. For employers holding registration certificate, the period of returns to be filed on basis of annual tax liability amounts are as follows. Here is the ready reckoner of tax slabs for the financial year 20 14 which. Profession tax enrollment incentive scheme 2009,the maharashtra state tax. Income tax return forms privacy laws in india pdf for ay 20 14 in excel pdf word format. Dear elsa, please click on the below link for information on pt slabs etc. The revised tax slabs for salaried employees in maharashtra. Income tax rates for financial year 2012 and ay 2014. As per the karnataka professional tax slab rates, all individuals with a monthly gross income less than rs. The professional tax rates is based on the income slabs set by the respective state governments.
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. Andhra pradesh new professional tax slabs weffeb20. This form of tax was first levied in india in the year 1949 and the power to levy professional tax has been given to the states by way of clause 2. New rates of professional tax pt deduction will be applicable w. Rate schedule under the maharashtra value added tax. The person exempted from the provisions of the profession tax act in maharashtra. Professional tax in maharashtra is governed by the maharashtra state tax on professions, trades, callings and employment act, 1975 which came into effect from 1 st april 1975.
The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Profession tax enrollment incentive scheme 2009,the maharashtra state tax on professions, trades, callings and employments act 1975. The professional tax slab rates are revised every fiscal year and. Professional tax slab in madhya pradesh for fy 201819. Some of the states which currently impose a professional tax in india are maharashtra, gujarat, andhra pradesh. Union budget 20 14 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. This tax is deducted from the salary of an employee every month. Each state declares a slab and the professional tax is deducted on the basis of these slabs. 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. Bihar, west bengal, andhra pradesh, telangana, maharashtra, tamil nadu, gujarat. Government to perform such functions of the profession tax appellate authority. 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. Profession tax in maharashtra is levied with reference to the maharashtra state tax on professions, trades, callings and employment act, 1975 and came into effect from 1041975.
Since professional tax is levied by the state government, it tends to differ for various states. A site for easy to use online tax and other calculators, forms compiled in excel and fillable pdf formats with without autocalculation formulas and information. Professional tax is a state tax, imposed by a state government on account of the infrastructure it provides to you so that you can carry out your profession. New professional tax slabs amendment pdf download citehr. The only benefit this financial year is there is a tax credit of rs 2000 for people having an annual income up to rs 5 lakh.
The professional tax for some major states in india are andhra pradesh, maharashtra. 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. The slab of the profession tax has been revised for tamil nadu in the year 2018. The maharashtra state tax on profession, trades, callings and. A rebate of rs 2000 will be available for income less than rs 5 lakhs. Professional tax rate for 201112 in maharashtra this query is. Different states have varying methods of calculating professional tax. As per the as per kerala municipal act, 1994 section 254 it is mandatory for all employees who are drawing a half yearly salary of more than rs. What is professional tax and professional tax slab rate in. Professional tax for the financial year 201415 wealthtechspeaks. Profession tax as per kerala municipal act, 1994 section 254. Maharashtra professional tax slab rate maharashtra professional tax slab rate professional tax slab rate in maharashtra last updated. The profession tax amount is considered exemptible from taxable income of the employee.
Employers are required to deduct profession tax, at prescribed rates, from salary wages paid to employees, and to pay. Professional tax, how to pay professional tax, tally. Professional tax slabs for indian states sensys blog. Maharashtra profession tax slab rate for the year 20082009. Maharashtra professional tax slab rate, latest news bankbazaar. Professional tax slab rates state wise in india 201920 july 18, 2019 may 7, 2019 by rajesh m here you can find state wise professional tax slab rates of each state in india for 201920 along with with their payment due dates, associated forms, and website details. Profession tax, professional tax rates for various states and forms in excel format. Sproimgpayrollpayroll india professional tax assign amounts for professional tax deduction table. Profession tax also called tax on employment is imposed by a state under article 276 of the constitution of india. Professional tax act department of goods and services tax. Professional tax slabs for central government employees.
Jan 24, 20 plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax. In india, the professional tax is imposed at the state level. There is a surcharge of 10 per cent on persons whose taxable income exceed rs. New site like for how to pay how to pay professional tax online maharashtra has been introduced. Now, it involves a new provision of tax on employment and calling as well as professions and trades. Dealers other than importer having turnover which is less than rs. Professional tax slab rates in different states updated.
New professional tax slab in west bengal, 2014 wbxpress. Everything you need to know about professional tax. However, there are few states and union territories in india that do not charge professional tax. Constitutional provision article 276 of constitution of india. This article is very much specifically for the changes in the professional tax rates which. You will find professional tax slabs applicable in some of the states. Updated professional tax rates in maharashtra, latest professional tax rates in maharashtra. The government of maharashtra has introduced changes to profession tax rates effective 01july2014. Jan 12, 2010 professional tax slab in bangalore 0 to14999 is 150 and 15000 and above is 200. In this activity, we assign a professional tax ptax rate to a slab code.
Pt is calculated on the basis of the earned gross salary of employees. Maharashtra professional tax slab rate, latest news. Profession tax, directorate of commercial taxes,government of west bengal. Laearn about professional tax see all the details like share subscribe email. Maharashtra government has amended section 5,8 and 9 of maharashtra state tax on professions, trades, callings and employments act, 1975. Professional tax slab rates state wise in india 201920.
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