Income tax slab rates 201718 pdf download ay 201819. P rofession tax is a tax levied on a person engaged in any profession, trade, calling and employment in west bengal. Professional tax slab rate in madhya pradesh 201617. Collection of professional tax in maharashtra has registered a. The amount of incometax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. Profession al tax slabs, profession al tax slabs all states, profession al tax slabs andhra pradesh, profession al tax slabs assam, profession al tax slabs gujarat, profession al tax slabs karnataka, profession al tax slabs kerala, profession al tax slabs maharashtra, profession al tax. Pt is calculated on the basis of the earned gross salary of employees. Income tax exemptions for fy 201617 and list of deductions, rebates and benefits for ay 201718. Kindly note that the offices of return and recovery branches are shifted.
However, this benefit of rs2,000 tax credit will not be available if you cross the income range of rs 5 lakh. Income tax slab 201718 for individuals, senior citizens and. April 24, 2019 professional tax rates in maharashtra. Income tax slab rates for individualhuf for fy 201415. Income tax rates in india and other countries tax slabs and rule. Under the act the maharashtra state tax on professions, trades. Maharashtra professional tax slab rate fy 201516 professional tax calculation chart for state of maharashtra. Click here to save tax with hdfc lifes various online insurance products. What is professional tax and professional tax slab rate in. Ay 201617, the following rates were also applicable for fy 201415 ay 2015 16 latest income tax slabs in india fy 201617 or as 201718.
Surcharge and education cess see note income tax slab rates 201718 pdf download. The government of maharashtra of also revised its professional tax slab rates for the financial year 201516. Information about statutory compliance, taxation, tds, etds, revised tds return, itr, xbrl, pf, esic, profession tax, service tax, hr, payroll, fixed asset, depreciation. Incometax slab rates for individual for fy 201516 ay 201617 income tax slab rates for individualhuf for fy 201415. While some states might charge it as a percentage value, other states tend to charge it as a fixed amount based on income slabs. Deduction of halfyearly profession tax in chennai part i.
Income tax slabs for the financial year 201415 and assessment year 201516 mytaxcafe. The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here free income tax calculator for calculating tax for 201819. Gujarat professional tax slab rate fy 201516 as per the income tax rule by clause 2 of article 276 of the constitution of india professional tax is a specific type of tax which is levied by the state in india on the income earned through profession or employment. Union budget 2014 has come with few changes to cheer up for common man. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget.
Lets look at the professional tax slabs of the states which levy the. Maharashtra professional tax slab rate, latest news bankbazaar. Income tax slab for financial year 201415 posted on. The following are the professional tax rates in key states in india.
The west bengal state legislature enacted the west bengal state tax on professions, trades, callings and employments act, 1979 in exercise of the power conferred by the article 276 of the constitution of india under entry no. Profession tax is the tax levied and collected by the state governments in india. In this post the professional tax slab rate in madhya pradesh state has been discussed. Maharashtra profession tax revision july 2014 posted by gautham on july 8, 2014. Jul 02, 2018 but for that, you need to know the rules of income tax set by the tax department.
Maharashtra professional tax slab rate, latest news. Income tax slab rates for 2014 and 201415 by shankar bose inspector of incometax mstu, puri. As this tax is a state subject, the rate of profession tax varies from one state to another. Maharashtra govt, has amended profession tax act wef 1. Hra income tax exemption calculation for employees and professionals. Tax rates in bangladesh for assessment year 201516 as. Income tax rates for fy financial year 2015 16 ay assessment year 201617,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Mar 07, 2016 gujarat professional tax slab rate fy 201516 as per the income tax rule by clause 2 of article 276 of the constitution of india professional tax is a specific type of tax which is levied by the state in india on the income earned through profession or employment. Income tax slab in india for fy 20172018 information about latest tax brackets or current tax slabs in india with new income tax slab budget 2017 for women, senior citizen, pensioners and individual with cess rate. Professional tax in maharashtra is governed by the maharashtra state tax on professions, trades, callings and employment act, 1975 which came into effect from 1 st april 1975. The government came up with the decision to limit supply of under priced fuel to cut subsidies. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. Income tax slab rates for fy 201718 ay 201819 india.
Bihar, west bengal, andhra pradesh, telangana, maharashtra, tamil nadu, gujarat. Jul 11, 2014 income tax rate chart income tax slabs as applicable for assessment year 2015 16 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies. Professional tax in maharashtra pdf hi all, i have found soft copies of maharashtra state tax on professions, trades, callings and. For more information on professional tax slab, please refer to our other blog on the topic. Professional tax for the financial year 201516 wealthtechspeaks. Tax slab ay 201617 individualhufboiaopajp india itr.
Rates of incometax for fy 201415 ay 201516 as per the finance no. Income tax slab rates for individual for fy 2015 16 ay 201617 income tax slab rates for individualhuf for fy 201415. For all other class of individuals, maharashtra state govt has prescribed different slab rates and the individual is himself liable to pay. Income tax rates in india and other countries tax slabs. As there was no change in income tax slabs for fy 2015 16 i. In this post, we will discuss the relative changes in.
Income tax slabs and rates for fy 202021 last updated. Rates of income tax for fy 201415 ay 2015 16 as per the finance no. Although there is no change in the rate of tax, surcharge or cess but the maximum amount which is not chargeable to tax is increased by rs. Profession tax in maharashtra in maharashtra maharashtra state tax on professions. Ajit pawar in his budget fm has increased minimum salary limit for profession tax from rs. Deduction of halfyearly profession tax in chennai part i posted by gautham on february 4, 20. Updated profession tax rates in maharashtra taxguru. It offers special privileges for women professional tax payers. Based on the gross income declared by the half yearly profession tax will be calculated as per the table given below. Please send us new profession tax for 2015 16 slab circular, because of see the details exemption of tax female.
Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. It offers special privileges for women professional. Normal rates of tax applicable to all individualshuf who are less than 60 years of age. But for that, you need to know the rules of income tax set by the tax department. Professional tax or pt is the tax which is applied on all types of professions such as salaried individuals of both government and nongovernmental organizations and on private practitioners such as doctors, engineers, accountants lawyers etc. Income tax slab in india for fy 20172018 information about latest tax brackets or current tax slabs in india with new income tax slab budget 2017 for women. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Maharashtra government has presented its additional budget on 05th june 2014 through its deputy chief minister and finance minister shri ajit pawar in his budget fm has increased minimum salary limit for profession tax from rs. Latest income tax slab rates for individual resident india.
The tax rates are given below in the table in form2. What is professional tax and professional tax slab rate in india. In the fy 201516, it was rs 2000, now the tax rebate is rs 5000. In this post, we will discuss the relative changes in the tax slab for 201617 for different entities. New professional tax slabs amendment pdf download citehr. Chhattigarh professional tax rates, slabs, returns, act. In this post i restrict my subject towards new tax slabs for fy 201415. Professional tax which state slab pt will applicable as per maharashtra contractor office or gujarat. Income tax slabs income tax rates and deductions for fy. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for individual, huf, aop, boi, part. Marginal rise in professional tax collection in 201516 the. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance products, for the financial year 201718. Income tax slabs income tax rates fy 201516 av 201617. Latest income tax slabs and rates for fy 201516 and ay.
We give below the income tax rates and slabs applicable for the fy 2015 16 or ay 201617. Debit card emi moratorium how to check your income tax slab hdfc bank loan emi. As per the as per kerala municipal act, 1994 section 254 it is mandatory for all employees who are drawing a half yearly salary of more than rs. Rate schedules under the professions tax act, 1975 department. This tax is to be paid to the respective corporation municipality in which the company is situated. Latest income tax slabs and rates for fy 201516 and ay 201617.
The current assessement year is ay 201819 fy 201718. West bengal professional tax slabs, rates, registration. Profession al tax slabs for different states in india. Income tax slabs in india, new income tax slab 2018 budget rate. Notwithstanding anything contained in schedule, where a person is covered by more than one entry in this schedule, the highest rate of tax specified under any of those entries shall be applicable in his case.
Tax slabs for financial year 201415 or assessment year 201516. Jul 10, 2014 in this post i restrict my subject towards new tax slabs for fy 201415. Income tax slab tells the tax rate at which you have to pay tax on income. Profession tax pt is levied by local authorities such as city corporations and municipalities on employees and employers. The state of maharashtra has passed an act known as the maharashtra state tax on professions, trades, callings and employments act, 1975 with the purpose to collect revenue to be used in employment generation guarantee scheme. Tax rates in bangladesh for assessment year 2015 16 as per finance act 2015 a tax other than company. Tax rates in bangladesh for assessment year 201516 as per. Tax slabs for financial year 201415 or assessment year 2015 16. Every person, engaged actively or otherwise in any profession, trade, calling or employment and falling under one or other classes mentioned in schedule i of the maharashtra state tax on professions, trades, callings and employments act, 1975, is liable to pay, to the state government, tax prescribed under the said schedule. Maharashtra government has presented its additional budget on 05th june 2014. Tax rates in bangladesh for assessment year 201516 as per finance act 2015 a tax other than company.
Income tax rates for fy financial year 201516 ay assessment year 201617,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Income tax rates and tax slab for financial year 201617 assessment year 201718 as per budget proposal 201617 new. The corporation of chennai will assign a permanent number in the style of ptnan. The revised tax slabs for salaried employees in maharashtra are as follows.
In 201516, it went up by just rs 3 crore to rs 2,169 crore. Rate schedule under the maharashtra value added tax mvat act. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income between 50 lakhs and one crore rupees above 1 crore 15% surcharge. The professional tax slab rates on salary and wages in maharashtra are as follows. The government of maharashtra has introduced changes to profession tax rates effective 01july2014. However, the surcharge shall be subject to marginal relief where income. Similarly, in case of yearly return say for financial year 201516, salary is to be. Professional tax slabs for indian states sensys blog. Income tax slab rates for ay 201718, fy 201617 income tax slab rates for assessment year 201718 income tax slab rates for financial year 201617 no change in income tax slab the income tax slab for individuals, females, senior citizen remains same in the fy 201617.
The government announced that taxpayers with an annual income tax slab of more than rs. Income tax slab for financial year 201415 mytaxcafe. Mar 07, 2016 maharashtra professional tax slab rate fy 201516 professional tax calculation chart for state of maharashtra. Income tax slabs and rates for fy 202021 bankbazaar. Jul 30, 2007 pt slab of maharashtra state pdf download. Can you please send me the professional tax slab 20082009. For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted warwounded freedom fighter, income tax is payable for the.
Professional tax rates in maharashtra mumbai professional. He is required to deduct the amount of tax from the salaries of all employees except those who are drawing a salary of less than rs. Dealers including owners of any millsindustry within the meaning of of a sales tax law in assam such dealers whose annual gross turnover of all sales is. Income tax slabs for fy 2014 2015 here are the slabs for the income tax for the income incurring in financial year 2014 2015. Profession tax as per kerala municipal act, 1994 section 254. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 2015 16. Proessional tax slab rate for the state of maharashtra is levied as per constitutional power under clause 2 of article 276 where state are empower to charge the professional tax as per the slab rate defined time to time.
Here is the income tax slab for the financial year 201617 or assessment year 201718, which will help you find. The government of maharashtra of also revised its professional tax slab rates for the financial year 2015 16. Deduction of halfyearly profession tax in chennai part. Employers are required to deduct profession tax, at prescribed rates, from. However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount payable as incometax and surcharge shall not exceed total amount payable as. The following income tax slabs are applicable for the financial year 201819 i. Maharashtra professional tax slab for financial year 201516.