What is the professional tax slab in Maharashtra?
Latest Professional Tax Slab Rates in Maharashtra 2024-25
The professional tax payable in Maharashtra ranges between Rs. 250 and Rs. 2,500 and it depends on the predetermined tax rates and salary of the taxpayer.
How much is professional tax in Maharashtra?
Latest Professional Tax Slab Rates in Maharashtra 2024-25
The professional tax payable in Maharashtra ranges between Rs. 250 and Rs. 2,500 and it depends on the predetermined tax rates and salary of the taxpayer.
What is the new PT rule in Maharashtra?
In Maharashtra, the threshold limit for the deduction of Profession Tax is an income of Rs. 7,500 per month. This means that if an individual's monthly income is less than Rs. 7,500, then they are not required to pay Profession Tax.
How many employees are 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.
What is the cost of PTEC registration in Maharashtra?
2500/-. What is enrolment certificate and what is registration certificate? Every employer in specific states is required to deduct taxes from salary when paid to one or more employees when payment made exceeds Rs 5000(this limit is for Maharashtra) and deposit with state government.
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 ...
How to pay professional tax for employees in Maharashtra?
- Go to Maharashtra Government's GST Department website. ...
- Kindly select TIN/PAN/TAN number, as applicable and enter the respective number along with the captcha shown in the image.
- Now, select the Act under which you want to make the payment.
Who is exempted from professional tax in Maharashtra?
It is subject to a minimum limit of income and charges differ as per the applicable slab rates of the states. Note: Senior citizens and handicapped persons with more than 40% physical or mental disability are exempted from paying Professional tax in Maharashtra.
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 |
What is the amnesty scheme for professional 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.
What is PTEC and PTRC in Maharashtra?
PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate.
How can I get professional tax certificate 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.
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 pays professional tax in Maharashtra?
As per Maharashtra professional tax rule, every salaried employee needs to pay this tax. Employers of such employees and self-employed individuals must obtain a certificate of registration or certificate of enrolment from the prescribed authority.
What is the cost of Ptrc and PTEC registration in Maharashtra?
2000. Once registered under PTEC, Rs. 2500 has to be paid every year before 30th of April as an advance payment for that particular financial year. There are no Government fees for Professional tax registration certificate (PTRC) and our professional fees are Rs.
What is the frequency regarding filing of return and payment of tax under the Maharashtra Profession Act?
Every assessee 'registered' under the Act shall submit to the assessing authority, a return In Form V every month showing the salaries and wages paid by him and the amount of tax deducted by him from the salaries and wages.
How to download professional tax challan in Maharashtra?
- Select the Other Acts Registration option.
- Click on RC Download.
- Enter the PAN card number/TIN number.
- Click on Get Status.
- You will get to see the PTRC challan next.
- Click on Save and Download Challan, and it will get done.
What if the amount of gross salary declared is less?
Answer: If the amount of gross salary declared in the income tax return is less than the amount of gross salary declared in Schedule TDS-1, it is important to rectify this discrepancy before filing the Income Tax Return (ITR).
Is PTEC compulsory for GST registration in Maharashtra?
Apart from Individuals, Company and LLP also required PTEC. Having a Professional Tax Enrolment Certificate (PTEC) is mandatory for obtaining GST Registration in Maharashtra.
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 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 professional tax slab in Gujarat?
What is the professional tax amount in Gujarat? The maximum annual professional tax liability is Rs 2500. On a monthly basis, individuals with a gross salary falling between Rs 13,500 are required to pay Rs 200.
What is Income Tax Act for professionals?
Section 44ADA offers a scheme of presumptive taxation of profits and gains arising from professions mentioned under Section 44AA(1) of the Income Tax Act, 1961. The benefit of section 44ADA can be taken only by those specified professionals whose annual gross receipts are under Rs 50 lakh.
What is Section 11 tax law?
IRC section 11 imposes a tax on taxable income of corporations. The provision provides exceptions for foreign corporations, RICs, REITs, insurance companies and mutual savings banks conducting life insurance business. Special rules apply to foreign corporations.
