Professional tax

Highlights of Maharashtra Budget 2018; PT amnesty & MVAT Changes

Goods and Services Tax - Amendments to Profession Tax Act- i. Responsibility to collect tax at source (TCS) on Organizations, Corporations, etc. ii. Attractive Scheme to be declared for One Time Payment of Tax (OTPT) for professionals. iii. Streamlining provisions for effective recovery of tax....

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Compliance Under Profession Tax (West Bengal)-Important for Start-Up

Goods and Services Tax - Profession Tax is a tax levied on a person engaged in any profession, trade, calling and employment in West Bengal. The West Bengal State Legislature enacted the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979 ...

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FAQs on Maharashtra Profession Tax Amnesty Scheme-2016

Goods and Services Tax - Govt. of Maharashtra has declared an Amnesty Scheme for the persons who have not obtained enrolment certificate yet. Government has decided to take stringent action against the defaulters after the scheme is over. This is the last chance given by Government before initiation of action....

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Profession Tax Amnesty Scheme- Pay for 3 Instead of 8 Years

Goods and Services Tax - Profession Tax comes in the ambit of Maharashtra Sales Tax Department and is named as Maharashtra State Tax on Profession, Trade, Calling and Employment Act 1975. Every self-employed person has to pay profession tax every year. But due to the lack of knowledge about profession tax, many taxpayers neither follow nor pay profession tax. ...

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Updated Profession Tax Rates in Maharashtra

Goods and Services Tax - 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. 5000 to Rs. 7500 which has come into effect from From July 2014 on salary payable in August 2014. ...

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Budget 2018 Speech by Maharashtra FM Sudhir Mungantiwar

Goods and Services Tax - In my last budget speech, I had mentioned about the Jal and Bhoomipoojan for Chatrapati Shivaji Maharaj Memorial in Arabian Sea near Mumbai at the hands of Honble Prime Minister of India. Now, the tender for this memorial has been finalized and work order has been issued. I am happy to mention that this project will be completed in thirty...

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Revised Rates of Profession Tax in Andhra Pradesh

Goods and Services Tax - No Profession Tax on salaries less than 15,000/- (earlier applicable from Salary of Rs.5,000/- onwards). There are only two taxable slabs salaries between 15,001/- to 20,000/- PT Rs.150/- PM and salaries above Rs.20,000/- PT Rs.200/- PM....

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Professional tax to be imposed in Bihar

Goods and Services Tax - Bihar government has decided to impose professional tax on central and state governments officers and employees, Railways, boards and corporation on the pattern of Maharashtra, West Bengal and other states, official sources said today. The state assembly adopted the Bihar Profession, Trade, Livelihood and Employment Tax Bill, 2011, yester...

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Profession tax rate hiked in Delhi

Goods and Services Tax - A person earning over Rs 30,000 per month may have to pay a ‘professional tax’ of Rs 100-200 under new tax proposals unveiled by the MCD in its 2010-11 budget, which also envisaged a hike of five per cent in property tax rates. The civic agency will focus on Commonwealth Games 2010 related infrastructure and parking projects in the co...

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Maharashtra Govt Budget gives relief to small professional taxpayers; hikes VAT

Goods and Services Tax - In its recent Budget Maharashtra State Govt. And its Finance Minister offered a mixed bag for the industry, trade and individuals subjected to professional tax. Keeping in mind not the economic slowdown but the forthcoming State Assembly polls in October, the Finance Minister, Mr Dilip Walse Patil has announced exemption of salary upto Rs...

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LLP & LLP partners liable to pay PT in Maharashtra from 01.04.2018

MAHARASHTRA ACT No. XXVI OF 2018. - (31/03/2018) - Maharashtra Profession Tax Act amended from 1.4.2018. Now a Limited Liability Partnership and each partner of LLP shall be liable to pay PT of Rs. 2,500/- per annum...

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Budget 2017: Amendments in Tax Laws in Maharashtra

Trade Cir No. 11T of 2017 - (20/04/2017) - The Acts and Rules, which are amended, vide budget 2017-18 in Maharashtra are as follows: 1. The Maharashtra Purchase Tax on Sugarcane Act, 1962(SCPT Act); 2. The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (PT Act); 3. The Maharashtra Value Added Tax Act, 2002 (...

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Profession Tax Payers in Maharashtra to communicate their income tax PAN or TAN or both

Trade Circular No. 6 T of 2013 - (01/10/2013) - The Government of Maharashtra amended the Maharashtra State Tax on Professions, Trades, Callings and Employments Rules, 1975 (PT Rules) vide above referred notification making it mandatory for the new and all the existing Profession Tax Payers to communicate their income tax PAN or TAN or both, as t...

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Profession Tax – Extension of Due date of payment of tax by persons enrolled on or before 31 May 2012

Notification No. PFT-2012/46/Adm-20 - (02/08/2012) - No. PFT-2012/46/Adm-20.In exercise of the powers conferred under clause (a) of sub-section (2) of section 8 of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975, (Mah, XVI of 1975) the Commissioner of Profession Tax, Maharashtra State, Mumbai hereby, in respect of ...

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From 1st July 2012 PTRC holder to pay Profession Tax electronically

Notification No. PFT. 1012/C.R. 29/Taxataon-3 - (14/06/2012) - Government of Maharashtra hereby specify that, with effect from the 1st July 2012, every employer holding Profession Tax Registration Certificate shall pay tax, interest, penalty or any amount due and payable by or under the said Act, electronically in the manner as specified in the said rule 45A. ...

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Recent Posts in "Professional tax"

LLP & LLP partners liable to pay PT in Maharashtra from 01.04.2018

MAHARASHTRA ACT No. XXVI OF 2018. (31/03/2018)

Maharashtra Profession Tax Act amended from 1.4.2018. Now a Limited Liability Partnership and each partner of LLP shall be liable to pay PT of Rs. 2,500/- per annum...

Read More

Budget 2018 Speech by Maharashtra FM Sudhir Mungantiwar

In my last budget speech, I had mentioned about the Jal and Bhoomipoojan for Chatrapati Shivaji Maharaj Memorial in Arabian Sea near Mumbai at the hands of Honble Prime Minister of India. Now, the tender for this memorial has been finalized and work order has been issued. I am happy to mention that this project will be completed in thirty...

Read More

Highlights of Maharashtra Budget 2018; PT amnesty & MVAT Changes

Amendments to Profession Tax Act- i. Responsibility to collect tax at source (TCS) on Organizations, Corporations, etc. ii. Attractive Scheme to be declared for One Time Payment of Tax (OTPT) for professionals. iii. Streamlining provisions for effective recovery of tax....

Read More

Compliance Under Profession Tax (West Bengal)-Important for Start-Up

Profession Tax is a tax levied on a person engaged in any profession, trade, calling and employment in West Bengal. The West Bengal State Legislature enacted the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979 ...

Read More

Budget 2017: Amendments in Tax Laws in Maharashtra

Trade Cir No. 11T of 2017 (20/04/2017)

The Acts and Rules, which are amended, vide budget 2017-18 in Maharashtra are as follows: 1. The Maharashtra Purchase Tax on Sugarcane Act, 1962(SCPT Act); 2. The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (PT Act); 3. The Maharashtra Value Added Tax Act, 2002 (MVAT Act); 4. Maharashtra Tax on the Ent...

Read More

FAQs on Maharashtra Profession Tax Amnesty Scheme-2016

Govt. of Maharashtra has declared an Amnesty Scheme for the persons who have not obtained enrolment certificate yet. Government has decided to take stringent action against the defaulters after the scheme is over. This is the last chance given by Government before initiation of action....

Read More

Profession Tax Amnesty Scheme- Pay for 3 Instead of 8 Years

Profession Tax comes in the ambit of Maharashtra Sales Tax Department and is named as Maharashtra State Tax on Profession, Trade, Calling and Employment Act 1975. Every self-employed person has to pay profession tax every year. But due to the lack of knowledge about profession tax, many taxpayers neither follow nor pay profession tax. ...

Read More

Updated Profession Tax Rates in Maharashtra

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

Read More

Revised Procedure for MVATCSTPTRCPTEC Registration in Maharashtra

Initially separate applications were required to be made with the Registering Authorities for registration under MVAT, CST and PT Acts. The application were received by different Registering Authority and processed in silos for granting registration under different Acts....

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Recent Amendments In Maharashtra VAT, PT & Luxury Tax

PART 1: AMENDMENTS IN PROFESSION TAX New Rate schedule w.e.f. 01/07/2014 for employers paying salary Monthly Salary Rate Rs. 0 – 7,500 NIL Rs. 7,501-10,000 Rs.175 p.m. Above 10,000 Rs.200 p.m. (Rs.300 for Feb) Section 27(A)(e) substituted: Any person with Intellectual and Development Disabilities (mental retardation) specified in th...

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