08 August 2009
There is a change proposed in the slab of profession tax. This will affect almost all the entities, as it is necessary to correctly deduct from salaries paid to employees and pay profession tax. AMENDMENTS TO THE MAHARASHTRA STATE TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENTS ACT, 1975. In SCHEDULE I appended to the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975, (Mah.XVI of 1975) for entry 1, the following entry shall be substituted, namely,- Salary and wage earners Such persons whose monthly salaries or wages,- Tax Rate (a) do not exceed rupees 5,000 NIL (b) exceed rupees 5,000 but do not exceed rupees 10,000 175 per month (c) exceeds rupees 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".
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