Profession Tax on Rental income on non-residential

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suresh kumar soma (Querist)
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19 March 2024 Sir,

Profession Tax on Rental income on non-residential is applicable as per the PT Act Serial Number 38. Hence, can we know the date of effect this.

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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10 July 2024 As of my last update, here is the information regarding the applicability of Profession Tax (PT) on rental income from non-residential properties in Maharashtra:

1. **Applicability**: According to the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975, PT is applicable to persons engaged in various professions, trades, callings, or employments listed in Schedule I of the Act. Serial Number 38 in Schedule I pertains to "Profession of any person who derives income by way of any commission or other remuneration (by whatever name called) for the services rendered as a broker or an agent."

2. **Rental Income**: Rental income from non-residential properties does not directly fall under this specific entry in Schedule I (Serial Number 38). PT is generally not levied on rental income but on professions, trades, callings, or employments as specified in the Act.

3. **Date of Effect**: There is no specific date of effect mentioned for the exclusion of rental income from PT under Serial Number 38 because PT typically applies to specified professions and employments rather than rental income.

4. **Consultation**: For precise and updated information, it is recommended to refer to the latest amendments to the Maharashtra PT Act or consult with a tax professional who is familiar with current PT regulations in Maharashtra.

If there have been recent updates or amendments to the Maharashtra PT Act affecting the treatment of rental income, reviewing the official notifications or consulting with the Maharashtra PT department directly would provide the most accurate information.