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Section 5 of professional tax act

WebThe Chattisgarh Professional Tax Act, 1995 Index Subject; Act Commencement: Act Commencement: Section - 1: Short title, extent and commencement Section - 2: Definitions: Section - 3: Levy and collection of tax Section - 4: Employer’s liability to deduct and pay tax on behalf of employees Section - 5: WebIncome Tax Act 2007, Part 5 is up to date with all changes known to be in force on or before 14 April 2024. There are changes that may be brought into force at a future date. …

THE WEST BENGAL STATE TAX ON PROFESSIONS, TRADES, …

A maximum of Rs. 2,500 can be levied as professional tax on any person per financial year. Profession Tax Is Deductible Under Section 16 (iii) Of The Income Tax Act According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary … See more As this tax is a state subject, the rate of profession tax varies from one state to another. While some states might charge it as a percentage … See more Profession tax is applicable on the following classes of persons: 1. An Individual 2. A Hindu Undivided Family (HUF) 3. A … See more Following are some of the Indian states and union territories where professional tax is applicable: 1. Andhra Pradesh 2. Karnataka 3. Maharashtra 4. Tamil Nadu 5. Assam 6. Kerala 7. Meghalaya 8. Tripura 9. Bihar 10. … See more Self-employed persons who carry out their profession or trade on their own and fall in the ambit of profession tax are liable to pay the tax … See more Web3 Jun 2024 · As per Section 5 of The Maharashtra State Tax, 1975 every person (other than partnership firms) obtain a PTEC registration is mandatory within 30 days from the date … gastric sleeve testimonials https://colonialbapt.org

Under the Act - The Maharashtra State Tax on …

Web2 Apr 2011 · Enrolment – Section 5 of the Act, 1975 states that - Every person liable to pay tax under this act, other than a person earning salary of wages in respect of the tax is payable by his employer, shall obtain certificate of enrolment from the prescribed authority in the prescribed manner. WebEvery month, all employers registered under the Profession Tax Act must submit a Form 5-A Statement with details of the pay and wages provided to their employees. Along with this, they must also include the amount of tax … WebBusiness entities in Odisha are required to deduct Professional Tax from the monthly salary from their employee at the applicable rates and deposit the same into the appropriate Head of account of State Government through Odisha Treasury every month. For the applicable rates, please refer to the rate chart. Entities registered under GST or VAT Act: gastric sleeve thiamine

TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENTS …

Category:All you need to know about Professional Tax - Bajaj Finserv

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Section 5 of professional tax act

What Is the Due Date for Payment of Professional Tax? - Vakil …

Web5 Dec 2024 · The provision regarding the computation of income from the head Profits and Gains of Business or Profession are contained in Section 28 to 44D of The Income Tax Act, 1961. Meaning of Business and Profession -. Under Section 2 (13) of the Income Tax Act, 1961 define Business include any trade, commerce or manufacture or any adventure or … Web26 Apr 2012 · Ans. The penalty prescribed as per section 5(6) for giving false information in application for Registration Certificate or Enrolment Certificate is equal to three times the tax payable under the Profession Tax Act. 11. Where and …

Section 5 of professional tax act

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Web41 rows · Under the Act - The Maharashtra State Tax on Professions, Trades, Callings and Employments ... WebProfession Tax Is Deductible under Section 16 (iii) Of The Income Tax Act. According to Section 16 (iii) of the Income Tax Act 1961, the professional tax paid by an employee is allowed as a deduction from his/her gross salary income.

WebForm 5 - Annual Profession Tax Return Applicability Any person who is engaged in any profession, trade, calling, or employment in the State of Karnataka and includes: Hindu Undivided Family (HUF) Firm Company Corporations Other Corporate Bodies Any Society Any Club or Association References Acts & Amendments Bare Act Profession Tax Slabs Web13 Sep 2024 · The bottom line. Professional Tax (PT) is one of the statutory compliance requirements for businesses. Unlike TDS, EPF and ESI, PT is levied by the respective state governments. But there’s a catch! Not all Indian states impose a professional tax. Also, the tax applicable to different income slabs may vary from one state to another, but it ...

WebAs Under Section 80C and 80D of Income Tax Act, a deduction of up to Rs. 2lakh is allowed if an individual invests in tax-saving bank fixed deposits with maturity of five years and more. This exemption is part of Rs. 1.5 lakh exemption currently available under Section 80C of Income Tax Act and 50,000 Under section 80D. Other … Web8 Nov 2024 · For the purpose of the Income-tax Act, 1961, professional tax is a deductible amount and can be deducted from taxable income. Under Article 246 of the Indian Constitution, only Parliament can make laws regarding the Union List, including income taxes. ... Section 80E Income Tax Deduction or Interest on Education Loan. By Future …

Web17 Dec 2012 · 28 December 2013 Section 27A provides for exemptions form payment of profession tax. Some important exemptions are as under: (i) Person suffering from permanent physical disability. (ii) Parents of mentally retarded child. (iii) Parents of a child suffering from a physical disability. (iv) Persons who have completed the age of 65 years. …

Web30 Sep 2024 · Explore our article on Section 43B. Professional Tax or Tax on Employment Under Section 16 (iii) The deduction is allowed for tax on employment under section 16iii of income tax act. The amount a taxpayer pays on account of a tax on employment or professional tax is allowed as a deduction under section 16. Here the tax on employment … david strathairn remember thisgastric sleeve tummy tuckWebsection (1) of section 5 shall be made in Form-1. An employer having places of work within the jurisdiction of different assessing authorities shall make an application for registration … david stratton plaistow nhWeb8 Apr 2024 · Treatment of professional tax in case of employees. In the case of employees, the employer is responsible to deduct the professional tax from the gross salary of the employee. The details of the professional tax so deducted will be available in Form 16 issued by the employer. The employees shall be allowed the deduction of professional tax … david strauss chicagoWebProcedure to Register Odisha Professional Tax. All applications for new registration and Enrolment under this Odisha State Tax on Professions, Trades, Callings and Employments Act 2000 are to be filed online ONLY. Please go to the official website of the Odisha Tax Department and Click on the “e-Registration” link to the new registration page. david strauss uchicagoWebSections 15A and 15B were inserted by section 1 (1) of the Theft (Amendment) Act 1996 (c. 62) and section 15B was amended by S.I. 2001/3649. Section 16 was amended by section 5 (5) of the Theft Act 1978 (c. 31). Section 24A was inserted by section 2 (1) of the Theft (Amendment) Act 1996 (c. 62). Section 33 was amended by S.I. 2001/1149. gastric sleeve upper giWeb31 Mar 2024 · In the case of tax liability of less than ₹50,000 in the previous year, the due date for payment of professional tax (PT) is 31 March. 2. In the case of tax liability of more than ₹50,000 per month, the due date is the last day … david strawbridge obituary