Section 5 of professional tax act
Web(2) Every person liable to' pay tax under this Act (other than a person earning salary or wages, in respect of whom the tax is payable by his employer), shall obtain a certificate of enrolment from the prescribed authority in the prescribed manner. Web1 Apr 2024 · The Tax payable by one person will not exceed Rs.2,500/- for one year. In the case of person liable to enroll but remained un-enrolled, the liability to pay tax in respect …
Section 5 of professional tax act
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Websection (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 … Web17 Mar 2024 · Fails to get Registration – He will be liable to a penalty of Rs.20/- per day under Section 5 (5) for the period during which he remains unregistered. Interest on Late Payment of Professional Tax – He is liable to pay interest at the rate of 18 % per annum for such delayed period along with penalties prescribed Non Deposition of Amount.
WebHowever, their request has not been accepted and the maximum amount of Professional Tax that can be levied by any State is Rs. 2,500 only. Any amount paid as Professional Tax to the State Govt. is allowed as a deduction under Section 16 of the Income Tax Act and Income Tax on the Balance Amount is levied as per the Income Tax Slab Rates in force. Web10 Aug 2024 · Kindly advice on Professional tax deduction and exemptions. 10th August 2024 From India, Bengaluru. ... Circular No 1-2024 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf. P tax new circular.pdf. 10 August 2024 02.05.25 PM From: India, Bengaluru
WebTAX LAWS & RULES. Acts Income Tax Act; Wealth Tax Act; Expenditure Tax Act; Interest Tax Act; Finance Acts; All Acts; Rules Income Tax Rules; Other Direct Tax Rules; Budget … 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 …
Web3. Profession Tax Authorities - (1) The authorities to be appointed for assisting the Commissioner shall be of the following designations, namely :-. a) Additional …
Webperson or employer ordinarily carries on his profession, trade, calling or employment; 2[(5) [xxxx] (6) "section" means a section of the Act; 3[(7) XXX] 4[(8) the words and expressions used in these rules but not defined shall have the meaning as assigned to them in the Act."] 50 The Gujarat Professions Tax Rules, 1976 R-2 1. inception consulting engineersWeb5 Territorial scope of charge. (1) A UK resident company is [ F1 chargeable to corporation tax on income] on all its profits wherever arising [ F2 (but see Chapter 3A for an … inception cord bloodWeb2 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. income property show cancelledWebLocal authorities not to levy profession tax. 31. Cesses not to be levied in certain cases. 32. Grants to local authorities for loss of revenue. 33. Power of make rules. ... amend section 11 of the Act to exempt from payment of balance of interest . 1976: KAR. ACT 35] Tax on Professions, Trades Callings income property peterborough ontarioWebSections 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. income property scott mcgillivray bookA 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 inception corporate officeWeb20 Likes, 0 Comments - GrowTax (@modern_employee) on Instagram: "Section 80D is a provision under the Income Tax Act of India that allows individuals and Hindu Un..." GrowTax on Instagram: "Section 80D is a provision under the Income Tax Act of India that allows individuals and Hindu Undivided Families (HUFs) to claim a deduction for the premium … inception cord blood bank