CA Sandeep Kanoi

CA Sandeep KanoiMaharashtra 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. 5000 to Rs. 7500 which has come into effect from From July 2014 on salary payable in August 2014.

Schedule of rates of tax on professions, trades, callings and employments after Budget:14

Please note that the rates of PROFESSION TAX are amended and the new rates will be effective from 01.07.2014.

The new slabs effective from 01/0/2015 is as under :-

RATE SCHEDULES UNDER THE PROFESSION TAX ACT, 1975

SCHEDULE I – (SEE SECTION 3)

Schedule of Rates of Tax on Professions, Trades, Callings and Employments.

Sr. No.Class of PersonsRate of Tax
1/4/2006 to 30/6/2009
1.Salary and Wage earners-Such persons whose monthly salaries or wages :-
(a) do not exceed rupees 2,500;Nil
(b) Exceeds rupees 2,500 but do not exceed rupees 3,500;60 per month
(c) Exceeds rupees 3,500 but do not exceed rupees 5,000;120 per month
(d) Exceeds rupees 5,000 but do not exceed rupees 10,000;175 per month
(e) Exceeds Rs 10,000/-2,500 per annum to be paid in the following manner :-

(a) rupees two hundred per month except for the month of February

(b) rupees three hundred for the month of February.

1/7/2009 to 30/6/2014
Salary and Wage earners-Such persons whose monthly salaries or wages :-
(a) do not exceed rupees 5,000;Nil
(b) Exceeds rupees 5,000 but do not exceed rupees 10,000;175 per month
(c) exceeds rupees 10,0002,500 per annum to be paid in the following manner :-

(a) rupees two hundred per month except for the

month of February

(b) rupees three hundred for the month of February.

1/7/2014 to 31/3/2015
Salary and Wage earners-Such persons whose monthly salaries or wages :-
(a) do not exceed rupees 7,500;NIL
(b) Exceeds rupees 7,500 but do not exceed rupees 10,000;175 per month
(c) exceeds rupees 10,0002,500 per annum to be paid in the following manner :-

(a) rupees two hundred per month except for the month of February

(b) rupees three hundred for the month of February.

1/4/2015 onwards
Salary and Wage earners-Such persons whose monthly salaries or wages :-
(a) do not exceed rupees 7,500;NIL
(b) (i) In case of male, exceed Rs. 7,500 but do not exceed rupees 10,000;175 per month
(ii) In case of female, do not exceed Rs 10,000;NIL
(c) exceeds rupees 10,0002,500 per annum to be paid in the following manner :-

(a) rupees two hundred per month except for the month of February

(b) rupees three hundred for the month of February.

1/4/2006 Onwards
2.(a) Legal Practitioners including Solicitor and Notaries;2500 per annum
(b) Medical Practitioners, including Medical Consultants and Dentists;2500 per annum
(c) Technical and Professional Consultants, including Architects,Engineers, R.C.C. Consultants, Tax Consultants, Chartered Accountants, Actuaries and Management Consultants;2500 per annum
(d)Chief Agents, Principal Agents, Insurance Agents and Surveyors and Loss Assessors registered or licensed under the Insurance Act, 1938, U.T.I. Agents under U.T.I. Scheme, N.S.S. agents under postal Scheme;2500 per annum
(e)Commission Agents, Dalals and Brokers (other than estate brokers covered by any other entry elsewhere in this Schedule);2500 per annum
(f)All types of Contractors (other than building contractors covered by any other entry elsewhere in this Schedule); and2500 per annum
(g)Diamond dressers and diamond polishers; having not less than one year’s standing in the profession.2500 per annum
3.(a) Members of Association recognised under the Forward Contracts (Regulations) Act, 19522500 per annum
(b) (i) Member of Stock Exchanges recognised under the Security Contracts (Regulation) Act, 1956;2500 per annum
(b) (ii) Remisiers recognised by the Stock Exchange;2500 per annum
4.(a) Building Contractors;2500 per annum
(b) Estate Agents, Brokers or Plumbers, having not less than one year’s standing in the profession.2500 per annum
5.Directors (other than those nominated by Government) of Companies registered under the Companies Act, 1956, and Banking Companies as defined in the Banking Regulation Act, 1949,

 

Explanation : The term ‘Directors’ for the purpose of this entry will not include the persons who are Directors of the companies whose registered offices are situated outside the State of Maharashtra and who are not residing in the State of Maharashtra.

2500 per annum
6.(a) Bookmakers and Trainers licensed by the Royal Western India Turf Club Limited;2500 per annum
(b) Jockeys licensed by the said Club2500 per annum
7.Self-employed persons in the Motion Picture Industry, Theatre, Orchestra, Television, Modelling or Advertising Industries, as follows:
(a) Writers, Lyricists, Directors, Actors and Actresses (excluding Junior Artists), Musicians, Play-back Singers, Cameramen, Recordist, Editors and Still-Photographers,2500 per annum
(b) Junior Artists, Production Managers, Assistant Directors, Assistant Recordists, Assistant Editors and Dancers.1000 per annum
8.Dealers registered under the Maharashtra Value Added Tax Act, 2002, or Dealers registered only under the Central Sales Tax Act, 1956, whose annual turnover of sales or purchases,-
(i) is rupees 25 lakh or less2000 per annum
(ii) exceeds rupees 25 lakh2500 per annum
9.Occupiers of Factories as defined in the Factories Act, 1948, who are not covered by entry 8 above2500 per annum
10.(1)(A) Employers of establishments as defined in the Bombay Shops and Establishment Act, 1948, where their establishments are situated within an area to which the aforesaid Act applies, and who are not covered by entry 8 – Such employers of establishments,-
(a) where no employee is employed1000 per annum
(b) where not exceeding two employees are employed2000 per annum
(c) where more than two employees are employed2500 per annum
(B) Employers of establishments as defined in the Bombay Shops and Establishments Act, 1948, where their establishments are not situated within an area to which the aforesaid Act applies, and who are not covered by entry 8 –Such employers of establishment,-
(a) where no employee is employed500 per annum
(b) where not exceeding two employees are employed,1000 per annum
(c) where more than two employees are employed2500 per annum
(2) Persons owning / running STD / ISD booths or Cyber Cafes, other than those owned or run by Government or by physically handicapped persons;1000 per annum
(3) Conductors of Video or Audio Parlours, Video or Audio Cassette Libraries, Video Game Parlours;2500 per annum
(4) Cable Operators, Film Distributors;2500 per annum
(5) Persons owning / running marriage halls, conference halls, beauty parlours, health centres, pool parlours;2500 per annum
(6) Persons running / conducting coaching classes of all types2500 per annum
11.Owners or Lessees of Petrol / Diesel / Oil Pumps and Service Stations / Garages and Workshops of Automobiles2500 per annum
12Licensed Foreign Liquor Vendors and employers of Residential Hotels and Theatres as defined in the Bombay Shops and Establishments Act, 1948.2500 per annum
13.Holders of permits for Transport Vehicles granted under the Motor Vehicles Act, 1988, which are used or adopted to be used for hire or reward, where any such person holds permit or permits for,-
(a) three wheeler goods vehicles, for each such vehicle750 per annum
(b) any taxi, passenger car, for each such vehicle1000 per annum
(c) (i) goods vehicles other than those covered by (a)1500 per annum
(c) (ii) trucks or buses1500 per annum
for each such vehicle :Provided that the total tax payable by a holder under this entry shall not exceed rupees 2,500 per annum.
14.Money lenders licensed under the Bombay Money-lender Act, 19462500 per annum
15.Individuals or Institutions conducting Chit-Funds2500 per annum
16.Co-operative Societies registered or deemed to be registered under the Maharashtra Co-operative Societies Act, 1960 and engaged in any profession, trade or calling –
(i) State level Societies2500 per annum
(ii) Co-operative sugar factories and spinning Mills2500 per annum
(iii) District level Societies750 per annum
(iv) Handloom weavers co- operative societies500 per annum
(v) All other co-operative societies not covered by clauses (i), (ii),(iii) and (iv) above.750 per annum
17.Banking Companies, as defined in the Banking Regulation Act, 1949.2500 per annum
18.Companies registered under the Companies Act, 1956 and engaged in any profession, trade or calling.2500 per annum
19.Each Partner of a firm (whether registered or not under the Indian Partnership Act, 1932) engaged in any profession, trade, or calling.2500 per annum
20.Each Co-parcener (not being a minor) of a Hindu Undivided Family, which is engaged in any profession, trade or calling.2500 per annum
21.Persons other than those mentioned in any of the preceding entries who are engaged in any profession, trade, calling or employment and in respect of whom a notification is issued under the second proviso to sub-section (2) of section 32500 per annum

Note: 1.

Where a person is covered by more than one entry of this Schedule, the highest rate of tax specified under any of those entries shall be applicable in his case. This provision shall not be applicable to entry 16(iv) of the schedule.

Note: 2.

For the purposes of Entry 8 of the Schedule, the Profession Tax shall be calculated on the basis of the “turnover of sales or purchases” of the previous year. If there is no previous year for such dealer, the rate of Profession Tax shall be Rs. 2000. The expressions “turnover of sales” or “turnover of purchases” shall have the same meaning as assigned to them, respectively, under the Maharashtra Value Added Tax Act, 2002. ”

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