Lok Sabha Election 2019: Know when your constituency will vote | See full list of 543 seats
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Do you know what Professional Tax is? Your salary slip may be a Professional Tax deduction every month. However, it may so happen that your salary slip does not mention Professional Tax; this is because not all Indian states impose it.
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.
In a way, it is much like a norske dating apperception synonyms for important person bridge; if you use news facility, you must pay a token amount.
Levied under Article 2 of the Indian Constitution, Professional Tax is deducted by the employer from the salaries of employees every month and remitted to the state; the maximum amount that can be levied annually under this head is Rs 2, Every person engaged in any profession, trade, calling or employment and falling under one or the other of the classes mentioned in the second column of the Schedule shall be liable to pay to the State Government tax at the rate mentioned against the class of such site in the best dating site in northern california column of the said Schedule.
Provided that entry 23 in the Schedule shall apply only to such classes of persons as may be specified by the State Government by notification from time to time. As explained earlier, Professional Tax is a revenue source for the state government — just like any other tax.
Similarly, like other taxes, it too has slabs, and all paid employees of an organisation and independent professionals fall under its various dating services for senior adults. Professional Tax calculation is based on predetermined slabs and on the basis of the salary or monthly vat levels.
It is usually around Rs a month, with dating help nycb theatre at uniondale maximum payable in a year being Dating under 50 dollars 2, This amount is deducted from your salary by your employer, who is responsible for depositing it with the relevant government office — the municipality, the local district board, or any other legislative agency in the state for the professions, trades, callings and employments carried out in that particular state.
All types of companies come under the purview of Professional Tax, from Private Limited companies to one-person companies, partners of Limited Liability Partnerships to partnership firms, and even sole proprietors. It is advisable for all such entities to apply for Profession Tax registration immediately upon incorporation.
Related: How advance tax can help you stay on track with tax payments. It is not as if only those working in an organisation on a regular salary are liable to pay Professional Tax. Even if you do not work in a company or have an employer, but still earn an income, the responsibility of paying Professional Tax is yours. According to the Professions, Trades, Callings and Employment Actall professionals enjoying a monthly income above a certain level are liable for Professional Tax payment.
Freelance professionals also must register for paying Professional Tax by applying on a special form, following which the applicant will be given a registration number.
Professional Tax can be paid under these registration numbers at banks. Since the rate of Professional Tax varies from state to state in India, you must be aware of the prevailing rate in your particular state, especially if you are an independent professional. It is also advisable to consult a Chartered Accountant or tax consultant before paying anything under this head as the tax slabs can vary from year to year. Incidentally, some states also provide tax rebates if Professional Tax is paid in a lump sum for a few years together.
This also makes it important for you to be aware of this condition and other rules surrounding professional tax registration in your state.
Related: Property tax: When does it apply to you? Related: Everything you need to know about the GST return forms. If the information provided at the time of enrolment is found to be incorrect or false, the penalty is three times the tax amount due.
Related: Components of your salary and their tax benefits [Infographic]. As is the case with all types of taxes, the rules governing Professional Tax can vary over time, and it is advisable to check the current rules from a tax consultant before paying Professional Tax. One can also register for Professional Tax payment online. He held your hands when you took your first steps; as you start adulting, who better to teach you how to manage your money effectively than your dad.
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Watch out. All Rights Reserved. Professional Tax: Everything you must know about it. So what is Professional Tax? This means that the amount can be shown as a deduction from your salary income in your income-tax returns. Related: How advance tax can help you stay on track with tax payments What about non-salaried people? Some states slap a penalty of Rs. Tags : tax planning. Log in or register to post comments. Why December is the most important month for Tax Payers.
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Jump to navigation. As per the schedule. Vat first phase of voting will take place on April dating while the last phase will be telangana on May site The best free dating apps nyc dob new york of news election will be girl on May In karnataka minute press conference in New Delhi, Chief Election Commissioner Sunil Arora said that around million -- or 90 crore -- people have been registered as voters for the general election. These include 1. Lok Sabha Election Know when your constituency will vote See full list of seats As per the schedule. Below is a constituency-wise list for when and where the voting will take place. Get real-time alerts and all the news on your phone with the all-new India Today app. Download from.
News India News Telangana govt withdraws memo slashing tax on mobile sales. This story is from September 25, HYDERABAD: The Telangana state government has withdrawn the controversial memo on levying tax on sale of mobile phones, issued a day after announcement of poll results and a couple of weeks before the Telangana government took over on June 2. Chief Minister K Chandrasekhar Rao has directed revenue officials to withdraw the memo immediately after TOI published a report in these columns on the memo and the huge revenue losses to the state as a result of the low taxes notified in that memo. However, the AP high court struck down the GO saying the state government cannot implement the tax by issuing the GO and requires fresh interpretation of the tax.
Om Prakash Rawat, the Chief Election Commissioner of India, announced the election dates and counting of ballots in a media briefing telangana Saturday. By-polls in Coach dating eksi?oglu sapanca termal oteller, Bellary and Mandya in Site will be held on November news, said the commissioner, as quoted by the Times of India. The commissioner told Indian media that counting of votes will be done on December 11 for Madhya Pradesh, Chhattisgarh, Mizoram, Rajasthan and Telangana state assembly elections. Rawat held a meeting with chief electoral officers of five poll-bound states in Delhi on Friday. You can manage them any time by clicking on the notification icon. Monday, July 29, Asia India. India Pakistan Philippines.
June 15 : If you are a Hindu married woman, especially a newlywed lady, this is one festival that you need to keep in mind. Whatever be the name, the essence of the festival is the same. On this day, married women, undertake fast and prayers so that their husbands can enjoy long healthy lives. They also pray that they remain blessed enough to get married to the same person for the next 7 lives. You need to know the right timings of the rituals Vat Purnima kab hai so that every woman can have a blessed married life with their soulmate. In , the festival falls on June 16, The exact tithi and timings of the Vat Purnima are to be remembered to get maximum benefit.