Are senior citizens exempt from profession tax in Maharashtra?
Who is exempt from professional tax in Maharashtra? Senior citizens, specially-abled individuals with more than 40% disability, badli workers, and parents of specially-abled children do not have to pay professional taxes.
What is the new PT rule in Maharashtra?
| Men Monthly Gross Salary | Amount Payable as Professional Tax |
|---|---|
| Up to Rs.7,500 | Nil |
| Rs. 7,501 to Rs.10,000 | Rs. 175 per month |
| Above Rs. 10,000 | Rs. 200 per month except for the month of February and Rs. 300 for the month of February |
What is the amendment of profession tax in Maharashtra?
One of the notable changes under Maharashtra State Tax on Professions, Trades, Callings and Employments (Amendment) Bill, 2023 is exemption from profession tax payable by the women who draw the monthly salary or wages up to Rupees twenty-five thousand with effect from April 1, 2023.
How to pay profession tax online in Maharashtra?
Maharashtra Profession Tax: Pay Online
Go to Maharashtra Government's GST Department website. Click on 'e-Payments'. Select the option which is applicable as per the status of your profession tax payment.
How many employees required for professional tax registration in Maharashtra?
How many employees are required for PT Registration in Maharashtra? Every individual with an income is liable to pay Professional Tax. Accordingly there is no specific number of employees required to pay Professional Tax.
Who is exempted from professional tax in Maharashtra?
Who is exempt from professional tax in Maharashtra? Senior citizens, specially-abled individuals with more than 40% disability, badli workers, and parents of specially-abled children do not have to pay professional taxes.
What is the age limit for PT deduction in Maharashtra?
| Act | The Maharashtra State Tax On Professions, Trade, Callings And Employments Act, 1975 |
|---|---|
| Applicability | A person or employer by whom tax is payable under this Act |
| Exemption | A person above 65 Years of age, tax is not required to be paid under this Act |
| Registration Form | One Time Payment Of Tax Scheme, 2019.pdf |
Who are exempt from payment of profession tax under section 27a of profession tax act maharashtra state?
(c)[ Any person suffering from a permanent physical disability (including blindness), being a permanent physical disability specified in the rules made in this behalf by the State Government, which is certified by a physician, a surgeon or an oculist, as the case may be, working in a Government Hospital and which has ...
Is there any change in professional tax in Maharashtra?
The substituting provision has further provided that female employees / wage earners earning salary or wages more than INR 25,000 per month are covered in the class of eligible persons for payment of professional tax with the same rate of tax as the rate for male employees who earn salary or wages more than INR 10,000 ...
What is the rule 11 of profession tax rules in Maharashtra?
| Sr No | Rule numbers | Rules |
|---|---|---|
| 13 | 11 | Returns and payment of tax by employers. |
| 14 | 11A | Special provisions for returns to be furnished by the employer for the first year in which he is granted Registration Certificate |
| 15 | 11B | Special provisions for last return in certain cases |
| 16 | 11C | Payment of tax otherwise than in accordance with return |
How can I register for professional tax in Maharashtra?
- An application must be made in Form 1 within 30 days of becoming liable to pay the professional tax.
- Once Form 1 is submitted an acknowledgment with the date and time for attending the registration authority is generated.
What are the documents required for professional tax registration in Maharashtra?
- Light Bill / Rent Agreement: Light Bill in case of owned shop or business premises, for any other case Rent Agreement is required.
- PAN Card of Individual.
- Adhar Card of Individual.
- 2 Passport size photos of proprietor.
- Signature on Blank Paper for record and verification.
How to deposit professional tax in Maharashtra?
- Visit the Maharashtra Government's GST Department website.
- Tap on e-payments.
- Choose the option as per your professional tax payment.
- Choose the TIN/PAN/TAN number and enter the captcha.
- Now choose PTRC or PTEC act as per your convenience.
Who is exempted from PTEC in Maharashtra?
Ans: The following individuals are exempted to pay Professional Tax: Parents of children with permanent disability or mental disability. Members of the forces as defined in the Army Act, 1950, the Air Force Act, 1950 and the Navy Act, 1957 including members of auxiliary forces or reservists, serving in the state.
Who is liable to pay PTEC in Maharashtra?
PTEC (Professional Tax Enrolment Certificate) in Maharashtra is for independent workers who must pay the professional tax themselves. Required PTEC Registration for Company itself, its directors, and partners in LLP or partnership firms, proprietors, and professionals associated with the business.
What is the difference between PTEC and PTRC in Maharashtra?
PTEC and PTRC:
PTEC stands for Professional Tax Enrollment Certificate and PTRC is Professional Tax Registration Certificate. PTEC permits to pay the professional tax of the business entity (Private Ltd, Public Ltd, OPC, etc) and also of the owner or professional (sole proprietor, partner, director, etc).
Who are exempt from professional tax in India?
"As per section 16(iii) of the Income-tax Act, professional tax can be claimed as a deduction from salary/taxable income. However, if the net taxable income of a person is below the basic exemption limit, then there is no benefit of claiming a deduction for professional tax.
What is the amnesty scheme for profession tax in Maharashtra?
New Amnesty Scheme, 2023 is called 'Maharashtra Amnesty Scheme 2023 for of Arrears of Tax, Interest, Penalty or Late Fee. Women who make up to Rs 25,000 per month would not be subject to professional tax, as per the Maharashtra Budget.
Which state pays the highest tax in India?
Highest Taxpayer State in India
Maharashtra tops the chart of the highest tax-paying states in India.
What is the extra personal exemption for age 65?
Taxpayers who are 65 and Older or are Blind
For 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are: $1,850 for Single or Head of Household (increase of $100) $1,500 for married taxpayers or Qualifying Surviving Spouse (increase of $100)
What is the deduction for old age?
The standard deduction for seniors this year is actually the 2022 amount, filed by April 2023. For the 2022 tax year, seniors filing single or married filing separately get a standard deduction of $14,700.
What is the exemption age?
b) Conditional exemption certificates are: Mature age which is offered to 23-year-old students and lasts for the full-time duration of study plus two years, Foreign conditional which lasts for the full-time duration of study plus two years and.
What is Section 4 of Maharashtra state tax on professions?
(4) Any person discharging any liability to the assessee after receipt of the notice referred to in this section, shall be personally liable to the Commissioner to the extent of the liability discharged, or the extent of the liability of the assessee for tax, penalty and interest, whichever is less.
What is the exemption of 27A?
Section 27A of the LTA Act exempts property held concurrently with a second property for up to two assessment years. This exemption is only available when the new property is unoccupied because of the construction or refurbishment of a private residence.
What is exempt from Fair tax Act?
There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions.
