What is the penalty for late payment of professional tax in Tamil Nadu?
A monthly penalty of 2.00% will be charged in case the employer and individual fails to pay the professional tax. Non-payment of professional tax may also incur a penalty of 10% in some cases.
What is the due date for professional tax payment in Tamil Nadu?
For each half-year, professional tax payments are due on April 01 and October 01. If you fail to make the professional tax payment on time, the state government will impose hefty penalty charges.
What is the penalty for late payment of professional tax in Maharashtra?
Maharashtra Professional Tax Late Payment Penalty
A penalty of 1.25% tax is payable for each month if an enrolled individual fails to pay this tax on time.
What is the penalty for late payment of professional tax in Telangana?
Failure to make payment before the due date may cost you hefty penalty of 25% to 50% on the total outstanding tax amount.
What is the penalty for late payment of professional tax in West Bengal?
The enrolled individuals are required to pay the professional tax by July 31 of every fiscal year. On the other hand, monthly payment is required for registered employers. If any individual/company fails to do so, they would be liable to pay a 1% penalty per month on the due tax amount.
What are the professional tax rules in Tamil Nadu?
| Act | The Tamil Nadu Municipal Laws (Second Amendment) Act, 1998 | |
|---|---|---|
| Salary (INR) | PT Amount | Remarks |
| Upto 21000 | ₹ | Nil |
| Between 21001 To 30000 | ₹ 135.00 | |
| Between 30001 To 45000 | ₹ 315.00 | |
Who are exempted from professional tax in Tamil Nadu?
The following is a short list of individuals who are exempted from the profession tax in Tamil Nadu: Anyone who is above 65 years of age. Guardians or parents of children with mental disability. Women agents involved exclusively under the Director of Small Savings or Mahila Pradhan Kshetriya Bachat Yojana.
How is late tax penalty calculated?
The Failure to File Penalty is calculated in the following way: 5% of the unpaid taxes for each month or part of a month that your tax return is late. The penalty will not exceed 25% of the total unpaid taxes.
What is the late payment penalty?
The failure to pay penalty is 0.5% of the unpaid taxes for each month or part of a month the tax remains unpaid.
What is the late filing penalty?
If you owe taxes and you don't file or file late, the IRS may apply a penalty known as the late-filing penalty or the failure-to-file penalty. The penalty is usually 5% of the tax owed for each month or part of a month the return is late, up to 25% of your bill.
How much is professional tax in India?
| Monthly Salary (Gross) | Professional Tax per Month |
|---|---|
| Up to INR 7,500 for men | Nil |
| Up to INR 10,000 for women | Nil |
| INR 7,500 to INR 10,000 | 175 |
| INR 10,000 and above | 200 (And 300 for February) |
What is the penalty for late payment of professional tax in Gujarat?
Gujarat Professional Tax Late Payment Penalty
As per the Profession Tax Act, if you fail to make payment within the specified time, you will be subject to a daily late payment fee and annual interest of 18% on the total amount owed.
What is professional tax in Chennai?
| Six months income (Rs.) | Old Tax (Rs.) | New Tax (Rs.) |
|---|---|---|
| 30,001 – 45,000 | 188 | 235 |
| 45,001 – 60,000 | 390 | 510 |
| 60,001 – 75,000 | 585 | 760 |
| 75,001 and above | 810 | 1095 |
How do I stop paying late filing penalty?
Avoiding a penalty
Allow enough time to make sure your accounts reach Companies House within the deadline. It does not matter if your filing deadline expires on a Sunday or Bank Holiday - you must still file your accounts by this date.
What is the WB Professional Tax Act?
This Act may be called the West Bengal State Tax on Professions, Trades, Callings, and Employments Act, 1979. ,it extends to the whole of West Bengal & it shall come into force, and shall always be deemed to have come into force, on the 1st April, 1979.
What is the limit of P tax in West Bengal?
| Annual Gross turnover | (P. T. Amount) |
|---|---|
| Rs. 5,00,001 - Rs. 7,50,000 /- | Rs. 300 |
| Rs. 7,50,001 - Rs. 25,00,000 /- | Rs. 600 |
| Rs. 25,00,001 - Rs. 50,00,000 /- | Rs. 1200 |
| Above - Rs.50,00,000 /- | Rs. 2500 |
What is the rate of professional tax in Tamil Nadu?
| Sl. No. | Six months income (Rs.) | New Tax (Rs) |
|---|---|---|
| 3 | 30,001 – 45,000 | 235 |
| 4 | 45,001 – 60,000 | 510 |
| 5 | 60,001 – 75,000 | 760 |
| 6 | 75,001 and above | 1095 |
How can I pay my Tamil Nadu professional tax online?
After registering the details of mobile number, e-mail id etc., the applicant shall get his/her unique user name and password through his mobile and e-mail in a secured manner, 3. Through Citizen portal, the applicant will create the self assessment application and submit the application for profession tax.
How can I register professional tax in Tamil Nadu?
Procedure for obtaining Professional Tax in Tamil nadu
Here is the procedure of the same: 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.
How to find assessment number for professional tax in tamilnadu?
1) Select PROJECT / CAF from the drop-down menu. 2) Click on the Apply button and the Page would get redirected to Issue of Assessment Number for Professional Tax Portal. 3) Enter all the mandatory details in the application for Professional tax.
What is Section 138 C of Tamil Nadu Municipal Laws Second Amendment Act 59 of 1998?
Every Company transacts business and every person who is engaged actively or otherwise in any Profession, Trade, Calling and Employment with the Greater Chennai Corporation city limits has to pay half-yearly Profession Tax, as per section 138C of Tamil Nadu Municipal Laws Second Amendment Act 59 of 1998.
How is vacant land tax calculated in Coimbatore?
As per Council Resolution No. 208 dated 29.12. 2011,VLT is calculated, 40 to 60 paise per sq. ft in the old corporation 60words & 10 to 40 paise per sq.
What happens if you don't pay taxes for 3 years?
What Happens if You Don't File Taxes for 3 Years? If you haven't filed taxes in three years, you can lose the chance to claim a tax refund. Additionally, the Internal Revenue Service may file a tax return (called a substitute for return or SFR) on your behalf, and then, the agency will try to collect the tax bill.
What happens if I don't pay my taxes?
If you don't pay your taxes on time, the IRS begins charging penalties and interest on the tax you owe as soon as the tax deadline passes. It can also begin collection actions against you that include tax liens and seizure of assets.
What happens if you don't pay taxes for 10 years?
You may face interest penalties and even jail time if you don't pay your taxes for a long time, but above all, you always have a chance to negotiate. For this reason, talk to the IRS about an installment plan. You can also make partial payments to reduce interest.
