Professional tax maharashtra slab 2022-23

If you are a salaried person, then you may have come across the term called Professional Tax as it is there on your salary slip. It is a deduction that you see from your salary every month mentioned in form 16 or in the payslips issued to you by the employer. The article below will discuss this Tax in details and let’s begin with what it means. Professional Tax is for all whether they are self-employed, salaried or into trading and not just in professions like of a Doctor or a Chartered Accountant. This tax is levied on a basis of the income earned by a person on and above a given income threshold. The tax rate varies from one state of the country to another and there are also various states which do not have any Professional Tax. Professional Tax or Profession Tax is levied by the State Government on the income of the assessee. Under Article 276 of the Indian Constitution, the state governments are empowered to decide the rate for the professional tax in the state. The maximum amount that can be charged under this tax regime is Rs. 2500. In a few states, this tax is even levied on the basis of source of income. Every state has their own slabs for this tax and here is a glimpse of the same – Maharashtra For Men Nil up to Rs. 7500 From Rs. 7500 – Rs. 10000 Rs. 175 For Women Nil up to Rs. 10000 For all Above Rs. 10000 Rs. 200 and Rs. 300 for the month of February West Bengal Up to Rs. 8500 Nil From Rs. 8501 – Rs. 10000 Rs. 90 From Rs. 10001 – Rs. 15000 Rs. 110 From Rs. 15001...

Each state has its own tax slab. In some states and union territories like Delhi, Haryana, Daman & Diu, Jammu Kashmir, Andaman, Arunachal Pradesh, Nagaland, Lakshadweep, professional taxes are not applicable. According to the latest updates, in Gujarat people who earn up to ₹ 12000 are exempted from paying the professional taxes. This came into effect from April 1, 2022. In India, everyone who earns more than a specific amount needs to pay the tax known as professional tax. This is imposed on all who earn a living through a profession, trade, or by any other profession. The amount of the rofessional tax slab Gujarat for the current year will be discussed in the article. There has long been a practice of professional taxes. A professional tax may only be assessed up to a maximum of ₹ 2,500 annually. Under the 1961 Salary Income Tax Slab No Class of Persons Rate of Tax per month 1 A) Salary & wages earners of the state government, Central Government, Panchayats, Public Sector Undertakings of the State & Central Government and Grant-In-Aids institutions whose monthly salaries or wages are i) Up to Rs 12,000/- Zero ii) More than 12,000/- Rs. 200/- B) Salary & wages earners other than those mentioned in sub-entry (A) above, whose institutions whose monthly salaries or wages are i) Up to Rs 12,000/- Zero ii) More than 12,000/- Rs. 200/- Important Dates of Paying Professional Tax Slab Gujarat 2022-23 Here are a few important dates to keep in mind if you are an individual paying t...

MEANING – PROFESSIONAL TAX Unlike the name, Professional Tax is not a tax which is applicable on professionals only, it is tax which is applicable on all kinds of professions, trades, and employment and based on the income. Applicability: It is applicable on: 1. Business including freelancers 2. Professionals including CA, CS, Doctors 3. Employees Professional tax is applicable once the person begins his profession or business within 30 days of starting the profession. In case the company has its presence in different places, then it is required to take registration for each such place. Exemptions to Certain Persons? • Foreign employees are exempt from paying profession tax. • Individuals who run educational institutions that teach classes up to twelfth standard. • Individuals in the Central Para Military Force (CPMF). • An individual who has one child and has undergone a sterilization operation. However, the relevant documents must be submitted. • Any ex-serviceman who comes under SI. No.1 (Schedule) • Any handicapped individual who has at least a 40% disability. However, the relevant certificate must be submitted. • Individuals who have a permit for a single three-wheeler or a single taxi to carry goods. • Deaf, dumb, and blind individuals who are earning a salary. • Civilian non-combatant and combatant members who are part of the Armed Forces. However, the Army Act must govern the Armed Forces. • Foreign technicians who have been employed by the state. • All philanthrop...