Deduction of halfyearly profession tax in chennai part i posted by gautham on february 4, 20. Driver salary if employee pays driver salary for self owned or company owned car, rs 900. Outcome budget 2014 size ministry of housing and urban. 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. Latest news updates gujarati natak lagan karya ne locha padya organised on 06012018 on saturday at 8. It is the 4th largest contributor to the countrys direct tax revenues. Dear esteemed member, at the outset, i express my heartfelt gratitude to all of you for bestowing upon me an honour to be the 27th president of the all gujarat federation of tax consultants at 28th annual general meeting held on 21st july, 2019. Professional tax is the tax by the state governments in india. Goods and services tax a person earning over rs 30,000 per month may have to pay a professional tax of rs 100200 under new tax proposals unveiled by the mcd in its 201011 budget, which also envisaged a hike of five per cent in property tax rates. State finance minister nitin patel on wednesday tabled the 20 14 budget in gujarat vidhan sabha envisaging increased taxes to net an additional rs 289 crore, leaving an overall surplus of rs 840 cro. Apr 19, 20 gujarats 2014 budget consolidates the foundation for inclusive, broadbased growth.
The union budget of india for 20142015 was presented by finance minister, arun jaitley on 10 july 2014,11 am. I want to know whether we have to got registered for professional tax for new office also. Maharashtra profession tax revision july 2014 posted by gautham on july 8, 2014. Enrollment certificate every person liable to pay tax under this act other than a person earning salary or wages, in respect of whom the tax is payable he his employer shall obtain a. A budget is a plan prepared for the flow of funds in an organisation.
The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. As this tax is a state subject, the rate of profession tax varies from one state to another. Tax on professions is included in the state list and therefore only the state governments have the right to tax under this head. Concern areas professional tax officer will give the registration no. The tax is usually accompanied by a number of service taxes, e. Tax new amendment in gujarat slab pdf download citehr. The authors acknowledge the senior program officer, dr. Sunil rajai, shital rajai, vijay rajai, mayur rajai, maitrik rajai. Union budget highlights 201819 download pdf in gujarati a budget is a financial plan for a defined period of time, usually a year. Gujarat state budget 202014 national portal of india. Professional tax is the tax charged by the state governments in india. The major industrial centre in gujarat are as follows. Fiveyear capital improvement program for fy 2014 to fy 201718. Aiming to enhance the countrys image as a friendly investment destination, the government along with world bank has released a statewise report on the ease of doing business a report in which gujarat has topped with a score of 71.
Government of india ministry of human resource development. As per this concept, a person deductor who is liable to make payment of specified nature to any other person deductee shall deduct tax at source and remit the same into the account of the central government. Hello mansinb, for rs 0000 to rs 5999 rs 0 for rs 6000 to rs 8999 rs 80 for rs 9000 to rs 11999 rs 150 for rs 12000. 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 of. I am already paying professional tax of rs 2400year for my business. Two crore indians file returns but pay zero income tax the. I have my own business and i am also doing a job in another company. Tamil nadu and gujarat the other big contributors is on the rise. Union budget 201718 latest highlights download budget.
It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. State wise professional tax slabs and rates has been shared below. The western indian state, three other bjpruled states and one led by a party ally occupied the top five. Professional tax deductiont from salaryus16iii simple. Income tax calculator for india, download excel based tool. Tax exemption on essential commodities, solapuri chadars and towels, wet dates to continue up to 31st march, 2014. 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. 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 calculator, professional tax rates for ap, assam, bihar, chhattisgarh, gujarat, mp, karnataka, kerala, orisa, tamil nadu, tripura, wb. The rate structure is flat on rural panchayat properties, but in the urban municipal areas it is mildly progressive with about 80% of assessments falling in the first two slabs.
Users can find the budget speech in english and gujarati. Finance department, gujarat the department of finance, government of gujarat plays a pivotal role in the development of the state by providing sound and efficient finance management system for. Professional tax is deducted by the employer and the amount varies based on the employees income. Government financing of health care in india since 2005 harvard. Professional tax has been in practise for a long time. The maximum amount of professional tax that can be levied is rs. Chapter wise gst rate schedule for goods decided in the gst council meeting held on 18. However, employees with a monthly gross salary above rs. 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.
Professional tax slab rate in maharashtra income tax slabs. Professional tax rate 20 2014 in gujarat pdf download. Gujarat professional tax slab rate how to register. Andhra pradesh, gujarat, karnataka, kerala, maharashtra, punjab, tamil nadu. Girls education program implemented by the state government have improved the. 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. What is professional tax and professional tax slab rate in india. New professional tax rates in gujarat for fy 201415 tax masala. Jobs, maru gujarat jobs, ojas maru gujarat jobs 2019. Detailed budget document, departmentwise allocation, budget in brief, supplementary statement of expenditure, vote on account book, etc is. Hi, the new professional tax slab applicable in gujarat for fy 20 14 is as under.
The annual budget for the year 2014 is of 1,14,450crore. This was the first budget of narendra modi led nda government. In india, the professional tax is imposed at the state level. Due date for employers professional tax rc is 15th of every month for those having more than 20 employees and 15th of every quarter for those having less than 20 employees and due date for payment of professional tax ec annually is 30th september of every financial year. Gujarat professional tax slab rate professional tax is charged on salaried individuals and is paid to the gujarat state government. The revised tax slabs for salaried employees in maharashtra are as follows.
My questions is do i need to pay professional tax two times if i have my own business and also if i am employed at the. 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. The place where i work also deduct professional tax of rs 2400 year from my salary. Only tax rebate of 2000 rs has been allowed for income tax.
However, the maximum levy of professional tax cannot exceed rs 2,500 in a financial year. Home page home about us vision and mission objectives. 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 civic agency will focus on commonwealth games 2010 related infrastructure and parking projects in the co. Professional tax is a tax which is levied by the state on the income earned by way of profession, trade, calling or employment. Gujarat rmsa201415 page 1 government of india ministry of human resource development department of school education and literacy shastri bhawan, new delhi dated. Finance department, gujarat the department of finance, government of gujarat plays a pivotal role in the development of the state by providing sound and efficient finance management system for good governance. Rate of profession tax for professional, traders etc. Can any one tell me the current professional tax slab in gujarat for the year 20 2014 ashvan. What is the criteria for professional tax in gujarat. We are a comprehensive and userfriendly open data portal facilitating free, easy and timely access to relevant data on government budgets in india. Persons exempt from payment of profession tax akshay. Gujarat s 20 14 budget consolidates the foundation for inclusive, broadbased growth. The software is exclusively designed as per the norms specified by the gujarat commercial tax department.
Making indias budgets open, usable and easy to comprehend. States own tax receipts gsdp is an important indicator of the gap between the state governments tax efforts and tax potential. Find union budgets, state budgets, rbi data and municipal budgets across years. Gujarat s 20 14 budget consolidates the foundation for inclusive, broadbased growth in indias public finances, state governments play a crucial role.
The net collection recorded by the region during financial year 201617 is rs. Professional tax act department of goods and services tax. Professional tax applicability in gurgaondelhi answers. About forms compiled in pdf fillable as excel word format. However, he can apply for annual return in form no. Some are asking that whether the basic income limit for individuals has raised to rs. Fat for chartered accountant, tax consultant, accountant, professional that located at surat, gujarat, india by mr. Need advise whether there is exemption from payment of professional tax gujarat in case of a handicapped person. Professional tax slab rates in different states updated. The professional tax slab rates are revised every fiscal year and can be paid online by nonsalaried persons. The rajai family is a group of devotees of sadguru swami jairamdas. The department also assists the income tax department in.
Tax provisions surveillance of transactions by sales tax department to go up. Contact us for taxation software with office management, etds software, service tax software, audit report software, cma, company audit, tax audit, tax calculation, gst software, taxation software provider in ahmedabad, gujarat, india. View budget variance budget variance report can be viewed from the trial balance, group summary and monthly summary. Union budget highlights 201819 download pdf in gujarati. As per the karnataka professional tax slab rates, all individuals with a monthly gross income less than rs. Gujarat deputy chief minister nitin patel, who also holds the finance portfolio, today presented the state budget. Pt is a tax which is levied by the state on the income earned by the way of profession, trade, calling or employment. Gujarat budget highlights 201718 download pdf in gujarati 21022017 download budget pdf in gujarati you may also like.
The outcome budget 2014 reflects the physical dimensions. Budget variance is active if the option maintain budgets and controls is enabled in accounting features, and at least one budget is created. I tax the taxomatic, by monarch infotech a software development firm particularly engaged in the development of taxation software like i tax, m. Salaried, selfemployed individuals, and companies in maharashtra are levied with professional taxes on their income from several sources. Download vat software login to your relyon account or signup for a free account, to download saral vatinfo, saral vat100 standard or saral vat100 premium your email address. Roads and buildings department goverment of gujarat. We already registered in for professional tax for the old office. I have come to know that there is some exemption in such cases on below link. Search facility for gst schedule jurisdiction details for gst. In case of salaried individuals, employers are responsible for deduction of the professional tax from the salary of the respective employees and deposit the same with the concerned authority. Only tax rebate of 2000 rs has been allowed for income tax slabs between 2lakh5lakh.
Deduction of halfyearly profession tax in chennai part i. Ahmedabad ahmedabad is a major city of the gujarat region. It contains financial guidelines for the future plan of action for a selected period of time. Agftcall gujarat federation of tax consultants, ahmedabad. Professional tax in gujarat is governed by the gujarat panchayats, municipalities, municipal corporations and state tax on professions, traders, callings and employment act 1976. In indias public finances, state governments play a crucial role. Punjabs professional tax move directionless, avoidable proposition there is no denying that punjab is starved of funds and its outstanding debt is further projected to shoot up from rs. Professional tax slabs for indian states sensys blog. This tax is just like income tax except for the fac. Annual professional tax in gujarat for the year 201718. A budget helps to refine goals and use funds efficiently. For bihar, the ratio of its own tax receipts to gsdp has stagnated at around 4 percent till 200809 and, since then, has grown just above 5 percent in 201112.
Any one earning an income from salary or any one practicing a profession such as chartered accountant, lawyer, doctor etc. Gujarat budget highlights 201718 amarugujarat latest govt. Anyone earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. They often tend to treat them as the same, which leads to making mistakes when they file their income tax returns. Cost inflation index cii is used to calculate longterm. Following states impose this levy in india karnataka, west bengal, andhra pradesh, telangana, maharashtra, tamil nadu, gujarat, assam. Profession tax pt is levied by local authorities such as city corporations and municipalities on employees and employers. Professional tax gujarat whether exemption to handicapped. It provides accurate information for evaluation of financial activities, aids in decision making and provides a reference for future planning. Exemption from payment of profession tax following classes of persons are exempted from payment of profession tax members of the forces as defined in the army act, 1950 or the air force act, 1950 and the navy act, 1957 including members of auxillary forces or reservists, serving in the state. Pt is calculated on the basis of the earned gross salary of employees. Presentation on changes in companies act 20 private limited companies. Fiscal year 20192020 proposed operating and capital budget. Introduction the concept of tds was introduced with an aim to collect tax from the very source of income.
Goods and service tax allocation of gst taxpayers to state authorities as on 08. We have already register in the other city of the same state of gujarat. Online payment facility is available only for pec number. Per capita total government expenditure on health in 2014. Read computer weeklys roundup to see what george osbornes 20 budget means for the technology and it sector. In 201112, the share of states in combined union and state governments receipts and disbursements was 56 and 57 percent respectively. While some states might charge it as a percentage value, other states tend to charge it as a fixed amount based on income slabs.
Exemptions galore in gujarat budget, but vat on cigarettes. Income tax order us 119 of the income tax act, 1961 the act regarding submission of form 15g and 15h for financial year 202021. This tax is levied based on slab rates depending on the income of individual. Cost inflation index is a measure of inflation, used to calculate longterm capital gains from sale of capital assets. 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. Professional tax rate 20 2014 in gujarat pdf download please login cite. Profession al tax slabs, profession al tax slabs all states, profession al tax slabs andhra pradesh, profession al tax slabs assam, profession al tax slabs gujarat, profession al tax slabs karnataka, profession al tax slabs kerala, profession al tax slabs maharashtra, profession al tax. Full text of finance minister nitin patels speech presenting gujarat. What is professional tax and professional tax slab rate in. Everything you need to know about professional tax.
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