What is the interest rate for professional tax?
1.25% per month
Professional Tax in Karnataka For late payment of Professional Tax in Karnataka, Interest @ 1.25% per month would be levied and a maximum penalty of 50% of the Total Amount due may also be levied by the Karnataka authority.
How interest is calculated for late payment of PT?
For late payment of PT, interest @ 1.25% p.m. is levied and the state may also impose a penalty of 10% of the total amount due….Profession Tax in Maharashtra:
| Monthly Salary Wage | PT Payable |
|---|---|
| ii) In case of female: does not exceed Rs 10,000 | Nil |
How is professional tax calculated?
A professional tax is calculated on the basis of your salary and predetermined slabs. You can have to pay anything between ₹ 200 to ₹ 2500 a month.
What is the due date for professional tax payment in Andhra Pradesh?
Andhra Pradesh Professional Tax department has revised the date for Monthly PT remittance to 10th of every month (It used to be 15th). The Andhra Pradesh Tax on Professions, Trades, Callings and Employments Rules, 1957 – Notification – Amendment – Issued.
What is P tax in salary?
Professional tax is a tax that is levied by a state government on all individuals who earn a living through any medium. This should not be confused with the definition of professionals that indicates people such as doctors. This is a tax that is to be paid by every single earning individual.
Is professional tax applicable in Andhra Pradesh?
Applicability of professional tax is well stated in article 276 of Constitution of India. The maximum amount payable as professional tax is Rs. 2,500 per year….Andhra Pradesh Professional Tax Slab Rate.
| Monthly Income | Professional Tax Levied |
|---|---|
| For salary between Rs.15,001 to Rs.20,000 | Rs.150 per month |
| For salary of Rs.20,001 and above | Rs.200 per month |
How do I pay professional tax in AP?
Payment option for Profession Tax should be made through “Online Payment” only from 1st January,2020. Manual payment (Challan Entry) option will be disabled from 1st January,2020. To make payment, Taxpayer should be registered under Profession Tax Act.
How can I recover my professional tax?
You cannot get your professional tax back. But you can claim deduction of profession tax file filing your salary returns. There is generally no refund mechanism under professional tax. However, if the payment is made inadvertently then the professional tax act of the particular state shall mention the way to get it.
Is professional tax refundable in ITR?
Is there any profession tax in Andhra Pradesh?
Please note a change in Profession Tax Rates in Andhra Pradesh vide G.o.Ms.No. 82 dated 04-02-2013 wherein the First Schedule has been replaced with an amended one– copy of notification attached for reference. · No Profession Tax on salaries less than 15,000/- (earlier applicable from Salary of Rs.5,000/- onwards).
What is professional tax slab in Andhra Pradesh?
Andhra Pradesh Professional Tax Slab Professional tax slabs in Andhra Pradesh are revised on an annual basis. Tax is deducted from an employee’s monthly income based on the slab rates and paid to the state. The amount deducted as professional tax at the time payment varies based on the individual’s income.
What is the maximum amount payable as professional tax in India?
Applicability of professional tax is well stated in article 276 of Constitution of India. The maximum amount payable as professional tax is Rs.2,500 per year. Professional tax is one of the main sources of revenue for the government in India. Andhra Pradesh has its own professional tax slab rate.
What is profession tax and how to pay it?
Profession tax is levied on individuals earning income by practising professions, employment, callings or trades. Since the profession tax is levied by the state government, it varies from state to state. However, article 276 of the constitution caps the upper limit on profession tax to Rs.2,500.