Profession TAx In Maharashtra
This query is : Resolved
07 August 2009
What is the P.T rate on salary in Maharashtra after budget for this year and it is applicable from when?
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".
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".
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Applicability
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
