Professional tax is levied by the state government on salaried individuals, or in practice of any profession, or carry out some form of business. Latest income tax slabs and rates for fy 2012 and as 2014. 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. The state of madhya pradesh levies professional tax of rs. Professional tax maharashtra professional tax slab in. Hdfc life provides the latest income tax rates in india for different age groups and tax benefits offered by various life insurance policies, for financial year 20 14. Appointment of officers of the transport department of govt. Mar 31, 2014 can anybody share with me the slab rates for professional tax calculations for various states for the the fy 20 14. Professional tax act department of goods and services tax.
This is the income tax slabs for financial year 2012 and the analysis year 20 14. The slab of the profession tax has been revised for tamil nadu in. For senior citizens age 60 years or more but less than 80 years. Person suffering from permanent physical disability. Click here to download notification 1 tripura agartala slab rate of p. However, there are few states and union territories in india that do not charge professional tax too. Profession tax slabs india greytip knowledge center. So do i have to claim additional profession tax paid or i need to pay multiple times as i have multiple businesses. Following states impose this levy in india karnataka, west bengal, andhra pradesh, telangana, maharashtra, tamil nadu, gujarat, assam. 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. Professional tax in india statewise professional tax.
Maharashtra professional tax slab rate, latest news bankbazaar. Profession tax gujarat form 5 in excel format return of tax payable by employer under subsection 1 of section 6 of the gujarat state, tax on professions, trades, callings and employments act, 1976. Please provide all tamilnadu municipality professional tax slab 20 14 in excel format. Moreover, the state may change the tax rates every year. However, he can apply for annual return in form no. Please note these professional tax rates is only as per gujarat state we provide professional tax slab rates for all states in next article. Gujarat professional tax slab rate how to register. There is a surcharge of 10 per cent on persons whose taxable income exceed rs.
Latest income tax slabs in india fy 201617 or as 201718. Nonpayment or late payment of profession tax penalty is equal to 10% of the amount of tax to be imposed. New rates of professional tax pt deduction will be applicable w. The registration process for professional tax in tamil nadu can be completed online. Professional tax is a tax levied at the state level in india. The professional tax for some major states in india are andhra pradesh, maharashtra, gujarat, new delhi, karnataka, tamil nadu, madhya pradesh, west bengal. Professional tax slab madhya pradesh 2012 20 0 to 150000 nil 150000 to 180000 1500 rs 125 per month 180000 and above 2500 rs 208 per month yogesh gangrade bhopal asked in sales tax. Income tax slabs for financial year 2014 goodreturns. Professional tax for the financial year 201415 wealthtechspeaks.
Professional tax rate 20 2014 in gujarat pdf download. The government of maharashtra of also revised its professional tax slab rates for the financial year 201516. However, this benefit of rs2,000 tax credit will not be available if you cross the income range of rs 5 lakh. It is available from the offices of professional tax officers declared so by the designated authority, and also on the website. State wise professional tax rates for the financial year 202021 has been updated. This tax is to be paid to the respective corporation municipality in which the company is situated. Profession tax as per kerala municipal act, 1994 section 254. Allocation of gst taxpayers to state authorities as on 08. Jan 10, 2014 10 january 2014 kindly tell me professional tax slab for gujarat for 20 14. Apr 19, 20 professional tax rate 20 2014 in gujarat pdf download. Union budget 20 14 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Depreciation rates chart as per indian income tax act, 1961 income tax rates and income tax slabs for fy 2012 by for individuals, hufs, senior.
We want slab of profession tax in gujarat, rajasthan and madhya pradesh latest as on today. The professional tax, in maharashtra, is regulated by the maharashtra state tax on professions. Here is the ready reckoner of tax slabs for the financial year 20 14 which. Senior citizens above the age of 65 and handicapped. What i assume according to the tax slab, the professional tax cut from the salary of rs 6774 should be rs.
Monthly salary gross amount to be paid as professional tax per month. The form 5a professional tax annual return report is a annual report generated by the administrator. The income tax act, which was brought into force in 1961, is the statute under which all matters relating to taxation in india are listed. The maximum amount of pt that may be levied by any state in a financial year is rs 2500. Exemptions there are exemptions provided for certain individuals to pay professional tax under the professional tax rules. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 20 14. The total amount of professional tax paid during the year is allowed as deduction under the income tax act.
The following individuals are exempted to pay professional tax. Section 80ccg provides deduction wef assessment year 2014 in. 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. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Relaxation from compulsory return efiling for certain class. The tax on employment professional tax within the meaning of. Rajkot municipal corporation rmc is a local government committed to provide basic infrastructure facilities including entertainment facilities to the people of the city.
Rates of income tax fy 20 14 ay 201415 as per finance act, 20 as per the finance act, 20, income tax is required to be deducted under section 192 of the act from income chargeable under the head salaries for the financial year 20 14 i. It offers special privileges for women professional tax payers. In section 12b of the maharashtra purchase tax on sugarcane act, 1962, in clause e, for the word and figures year 2014 the words and figures years 2014 and 201415 shall be substituted. Gujarat professional tax slab rate fy 201516 as per the income tax rule by clause 2 of article 276 of the constitution of india professional tax is a specific type of tax which is levied by the state in india on the income earned through profession or employment. 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. The maharashtra state tax on profession, trades, callings and. It is collected by the state government by every individual who earns a living through mediums like trade, employment, or professional. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 20 14. Accurate professional tax slabs, benefits for gujarat.
What is the criteria for professional tax in gujarat. Do not press f5 key or refresh page during payment process. Responsibility of the deduction and payment of employees pt lies with the employer. As the professional tax levied by each state differs, the maximum amount that karnataka state can charge is rs. It includes levy, administration, collection as well as recovery of income tax. Professional tax deductiont from salaryus16iii simple. Members of the forces as defined in the army act, 1950, the air force act, 1950 and the navy act, 1957 including members of auxiliary forces. Different states have varying methods of calculating professional tax. The previous income tax slab for year 2012 20 can be found here income tax slabs 2012. For more information on professional tax slab, please refer to our other. We have to update these slabs in t7inp4 table and sap will not release the notes to update the pt slabs in the system. Apr 06, 20 10 useful charts related to service tax is given below. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. How to calculate tds on salary fy 2014 ay 201415 taxguru.
Please note that the rates of profession tax are amended and the new rates will be effective from 01. Each state declares a slab and the professional tax is deducted on the basis of these slabs. The amount of professional tax levied usually is a slab amount based on the gross income of the professional. Professional tax slab in madhya pradesh have been revised in state finance budget 2018. 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 in that state. Section 87a, one of the several sections of the income tax act, was inserted by the finance act, 20, to provide tax relief to. T h e p r e s e n t s c h e d u le a pp e n d ed to said a ct s h a ll b e s u b sti t u ted b y t h e f o ll o w i n g. 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. Profession tax in maharashtra in maharashtra maharashtra state tax on. Professional tax slab rates state wise in india 201920. Legal practitioners, solicitors, notaries, tax consultants, chartered accountants, technical and professional consultants, engineers, rcc consultants, architects, management consultants, estate agents, chief agents, principal agents, special agents, insurance agents, surveyors or loss assessors registered or licensed under the insurance act, 1938 central act iv of 1938, pigmy agents, uti. This tax is just like income tax except for the fac.
Income tax rates for financial year 2012 and ay 2014. Dear prakash consultancy, i am glad to say that you have attached the latest minimum wage at the earliest. Rmc is very well known for the managing the city by using private sector participation as well as introduction of innovative mechanism in management to serve people efficiently. Gujarat 20 14 gross salary per month rate per month upto 5,999 nil 6,000 to 8,999 80 9,000 to 11,999 150 12,000 and above 200. 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. What is the slab of professional tax of assam answers.
This report is generated annually to provide a month wise deduction of professional tax on employee salary. Professional tax is subject to a minimum limit of income and charged as per applicable slab rates of a state. Professional tax slab rates in different states updated. Constitution of india article 276 states that the total amount payable as profession tax should not exceed rs. Professional tax is charged by respective municipal corporations and most of the states in india charge this tax. Gujarat goods and services tax bill 2017 english gujarat goods and services tax bill 2017 gujarati the gujarat goods and services tax rules,2017 amended up to 2542018 faq on model gst law. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. A rebate of rs 2000 will be available for income less than rs 5 lakhs. Professional tax rates for the financial year 202021.
Profession tax is the tax levied and collected by the state governments in india. The amount of income tax shall be increased by education cess on income tax at the rate of two per cent of the income tax. Professional tax slabs for indian states sensys blog. 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. Tax gujarat hr activities, professional tax slab 2012 in what is professional tax deducted from salary slip fy. This is then signed by the authorized signatory and submitted to the professional tax. Schedule of rates of tax on professions, trades, callings and employments after budget.
Gujrat professional tax rates, slabs, returns, act, rules. Professional tax tariff slab rates for tripura state is changed as follows. Laearn about professional tax see all the details like share subscribe email. Can any one tell me the current professional tax slab in gujarat for the year 20 2014 ashvan. Here are the latest telangana professional tax slab rates as per the telangana tax on profession, trades, callings and employment act 1987 for the year 2019 and also find due date for payment of professional tax in telangana. Now, wait and it will redirect to net banking page.
Online professional tax application now, it displays payment process confirmation page with transaction details. Can individuals pay the professional tax in a lump sum. It is quite similar to the one in 2014 with some minor changes. Professional tax for the financial continue reading professional tax for the. Professional tax in india updated on may 10, 2020, 19463 views. The professional tax in telangana is applicable under the provisions of telangana professional tax act 1987. Pt is a tax which is levied by the state on the income earned by the way of profession, trade, calling or employment. Finance department sachivalaya, gandhinagar, 27th april 1976. Karnataka, maharashtra, andhra pradesh, gujarat, tamilnadu and madhya pradesh. Profession tax gujarat form 5 in excel format finotax.
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. Parents of children with permanent disability or mental disability. Profession tax schedules directorate of commercial tax govt. Maharashtra professional tax slab rate, latest news. Under the act profession tax department of goods and. According to the nagaland department of taxes, professional tax is applicable in the state, however, other widelyfollowed publications. Can any one tell me the current professional tax slab in gujarat for the year 20 2014. Profession tax are exempted in the following cases, senior citizen above 65 years age is tax exempt. Amdavad municipal corporation amc is appointed as the authority designated by the state government of gujarat to collect profession tax from tax payers from the whole city area within amc limit. The andhra pradesh tax on professions, trades, callings and employments act, 1987 proposal to amend the 1 st schedule of the act notification orders issued. Tax rate varies depending upon monthly salary wage of an employee. This tax is levied based on slab rates depending on the income of individual.
But if we look at the gujarat full break up in english then in the second and third page the period mentioned in 01102012 to 3103 20. 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. Dealers liable to pay tax under the west bengal sales tax act,1994 west bengal act xlix of 1994 or the central sales tax act, 1956 74 of 1956 or the west bengal value added tax act,2003 west ben. In india, the professional tax is imposed at the state level. Profession tax is deductible under section 16 iii of the income tax act. There is a special kind of tax levied on salaried individuals and people engaged in profession, trade and calling in india and it is called professional tax. The slab of income tax rates for fy 2012 ay 20 14 is to some extent different from that of slab of fy 1112 ay 2012. It is paid by dividing the annual professional tax due into 12 equal instalments, which are to be paid every month. The professional tax slab rates for the financial year 2018 2019 are. Professional tax slab of gujaratrevised pdf download. You will find professional tax slabs applicable in some of the states. Income tax deduction from salaries during the financial year 2014 under. New professional tax rates in gujarat for fy 201415 tax masala. Levied under article 276 2 of the indian constitution, professional tax is.
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