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Tuesday, May 29, 2018

Chennai New Profession tax slab 2018



The Profession Tax assessment and collection is coming under the provision of tax on professions, trades, calling & employments, under the Tamilnadu Municipal Laws (Second Amendment) Act 1998 Profession Tax is higher source of income next to Property Tax. The Profession Tax assessment is calculated based of the Half Yearly gross income for the following categories.
  • Individuals
  • Private Establishment
  • Salaried People (Central and State Govt.)
  • Company
Every Company transacts business and every person who is engaged actively or otherwise in any Profession, Trade, Calling and Employment with the Greater Chennai Corporation city limits has to pay half-yearly Profession Tax, as per section 138 C of Tamilnadu Municipal Laws Second Amendment Act 59 of 1998. The tax rates are given below in the table in Form-2. for assessment of Profession Tax has to make an application for registration.

Based on the gross income declared by the Half Yearly Profession Tax will be calculated as per the Table given below:

After 10 Years the respective act has been amended he new slab is given below
Sl.No.
Average Half-Yearly Income
Half Yearly Profession tax Old Slab  
Rs.
Half yearly Profession Tax w.e.f. 01.04.2018
Rs.
1
Up to 21,000
--
NIL
NIL
2
21,001
30,000
100/-
135/-
3
30,001
45,000
235/-
315/-
4.
45,001
60,000
510/-
690/-
5
60,001
75,000
760/-
1025/-
6
75,001 and above

1095/-
1250/-


Notification ๐Ÿ‘‰CHENNAI PT SLAB NEW 2018

Wednesday, May 23, 2018

Reduction of PF Admin Charges from 0.65 % to 0.50%

Dear Employer 

Good News Reduction of PF Admin Charges from 0.65 % to 0.50%  the said reduction is effective from 1st June 2018 subject to a minimum sum of seventy-five rupees per month for every non-functional establishment having no contributory member and five hundred rupees per month per establishment for other establishments.

Notification ๐Ÿ‘‡

Download:- Reduction of PF Admin Charges

Now the total challan amount  will be 


Ac No. 1  :-    12+3.67%
Ac No   10 :-  8.33%
Ac No 2 :-       0.5%
Ac No 21:-     0.5%

Ac No 22:-     Nil........

Total contribution will be 25 %  

For your Knowledge purpose & record purpose appended below is the road map      of EPF ADMINISTRATIVE CHARGES PAYABLE BY THE EMPLOYERS OF UN-EXEMPTED ESTABLISHMENTS 

EPF ADMINISTRATIVE CHARGES PAYABLE BY THE EMPLOYERS OF UN-EXEMPTED ESTABLISHMENTS
Period
Rate
Reckoned on
01.11.1952 to 31.12.1962
3%
Total employers’ and employees’ contributions.
01.01.1963 to 30.09.1964
3%
Total employer’s and employees’ contributions payable @ 6.25%.
2.4%
Total employer’s and employees’ contributions payable @ 8%.
01.10.1964 to 30.11.1978
0.37%
On total pay on which contributions are payable.
01.12.1978 to 30.09.1986
0.37%
On total pay on which contributions are payable. Minimum
Administrative charges payable per month per establishment was
Rs. 5/-.
01.10.1986 to 31.07.1998
0.65%
On total pay on which contributions are payable. Minimum
Administrative charges payable per month per establishment was
Rs. 5/-.
01.08.1998 to 31-12-2014
1.10%
On total pay on which contributions are payable. Minimum
Administrative charges payable per month per establishment is Rs.
5/-.
01.01.2015 to 31.03.2017
0.85%
On total pay on which contributions are payable. Minimum
Administrative charges payable per month per establishment is Rs.
500/-.
01.04.2017 onwards
0.65%
On total pay on which contributions are payable. Minimum
Administrative charges payable per month per establishment is Rs.
500/-.








Tuesday, May 22, 2018

Exemption from payment of late fee U/s 6(3)- of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975

Dear employers

As per  section  6(1)  of   the  Maharashtra   State   Tax  on  Professions,  Trades,  Callings and  Employments  Act,  1975  (the  Profession Tax  Act  1975), every  employer who  has obtained Profession Tax Registration Certificate (PTRC)under  the  Profession Tax Act, 1975  has  to furnish  return  in the  prescribed  format showing the  salaries  and  wages paid  by him  and  the  amount  of tax  deducted  by him  in  respect  thereof. As per  Rule 11(2A) of the   Profession Tax  Rules,  1975,   such   return  shall   be  in  electronic  Form IIIB  and   payment   shall   be  made   before uploading  the   said   return   on  the   official website of   the  department).    Section 6(2) of the  Profession Tax  Act,   1975  provides that   a return  without  such   proof  of payment  shall  not  be deemed  to have  been  duly flied.


From    01/04/2018,      the    PTRC returns    are    being    filed   on   the    new   web   site www.mahagst.gov.in  due to  technical difficulties, many    employers have    not  been   able  to upload    returns. Further it is  represented     that    they    are   facing   technical    difficulties   in   creating    profile  for accessing e-services on www.mahagst.gov.in

The issue has  been  examined and  it is found  that  because  otechnical difficulties  some of the 'employers  could not file the returns as framed under the act, Hence as per the  rules/Powers framed under the act by  various ammedment & circulars issued by the state government under the Provision of Section 6(3) Maharashtra   State  Tax  on  Professions,  Trades, Callings and  Employments  Act,  1975 the whole late fee payable by the registered employers in respect of the monthly or annual returns pertaining to the period Apr-2016 to June -2018 is being exempted subject to fulfillment eligibility conditions  .mentioned  below-

Eligibility Conditions:

  1. Any amount   payable  as per return   -should have  been/ shall  be paid  on or before the due  date.
  2. The  aforesaid employers should  submit  the. monthly   or,  as the -case may be; annual  returns pertaining to the periods    April 2016 to June   2018  on or before  31st  July 2018
  3. Needless to mention  that  no refund  or adjustment against .any tax liability shall be allowed -where late fee has  already.peen paid
Necessary Circular & FAQ( New Profession tax Website ) is appended below

๐Ÿ‘‰Late Fee Exemption Circular :- Exemption for late fee

๐Ÿ‘‰FAQ :- PROFESSION TAX FAQ
  

Thursday, May 03, 2018

Madhya Pradesh Professional Tax (PTAX) Revised Slab Rate

Profession Tax (P.Tax) slab in Madhya Pradesh have been revised. New rates will be applicable w.e.f. 01-04-2018.

Madhya Pradesh government in its finance budget 2018 have amended the professional tax slab rates for employees. The new PT rates aim at providing some relief to the salaried employees and increase their take home salary.

Professional Tax Slab In Madhya Pradesh For F.Y. 2018-19

Annual Salary Annual PT
Below Rs. 225000NIL
Rs. 225000 – Rs. 3000001500
Rs. 300000 – Rs. 400000 2000
Above Rs. 4000002500

PT is deducted from the monthly salary of the employees in equal installments and deposited with the department using professional tax

Below will be the actual monthly PT deduction rate:
Monthly Salary    Monthly PT
Below Rs. 18750NIL
Rs. 18750 – Rs. 25000125
Rs. 25000 – Rs. 33333167
Above Rs. 33333208


๐Ÿ‘‰MP-BUDGET-2018-19 ( See Yellow Highlighted)