Profession tax

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2013 Whether any notification is there for exepmtion of Chartered Accountants from payment of profession tax in first three year's of practice? I am practicing in Maharashtra

Anil Sankar V

Anil Sankar V (Expert)
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27 June 2013 About 30 categories of professionals have been exempted from levy and collection of profession tax up to a period of five years from start of their practice. They include doctors and engineers.

The government allowed the exemption through a notification issued on Monday by Revenue Department effecting some changes to AP Tax on Professions, Trades, Callings & Employment Act.

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These categories include legal practitioners, solicitors, notaries, tax consultants, chartered accountants, technical professional consultants, engineers, RCC consultants, architects, management consultants, estates agents, chief agents, principal agents, special agents, insurance agents, surveyors or loss assessors, pigmy agents, UTI agents, authorized assistants and sub-brokers recognized by SEBI, commission agents, dalals, brokers, auctioneers, journalists, medical practitioners (other than practitioners of ayurvedic, homoeopathic and unani systems of medicines), dentists, radiologists, pathologists and persons engaged in other similar professions and callings of a paramedical nature nature.

Also, those getting a salary/wage up to Rs.15,000 a month are exempted professional tax.

The profession tax will be Rs. 150 a month on salary of Rs.15,001 to Rs. 20,000 and Rs 200 per month on salary above Rs. 20,000. The maximum of Rs. 2,500 per annum will be collected from the listed practitioners after five-year period of professional standing.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2013 Thank u very much for reply but when did this notification came as i didnt find it any where

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2013 I am sorry but i was talking about maharashtra profession tax and not AP Tax