Profession Tax
This query is : Resolved
15 May 2008
Salary payment ( Rs. 7500/-)made by company to the personal employee of the director on behalf of director (i.e. debited to director account)by cheque.
Is the responsibility of the company to deduct Profession Tax on same? (Maharashtra State)
Is the liability of the director to pay P.T. on salary ?
Thanks in advance.
Regards,
Mahendra.
Is the responsibility of the company to deduct Profession Tax on same? (Maharashtra State)
Is the liability of the director to pay P.T. on salary ?
Thanks in advance.
Regards,
Mahendra.
15 May 2008
Mahendra,
It depends upon the state you are in, becuase professional tax is a state tax i.e. the rules are framed by the state governing body.If you could tell me the state you reside in we can progress from there.
It depends upon the state you are in, becuase professional tax is a state tax i.e. the rules are framed by the state governing body.If you could tell me the state you reside in we can progress from there.
15 May 2008
in maharashtra any person who pays salary to an employee in excess of RS. 2500/-then he will liable to deduct tax & paid to govt
15 May 2008
Income Monthly Professional Tax
Less than Rs. 2500 Nil
Between Rs. 2500-3500 Rs.60
Between Rs. 3500-5000 Rs.120
Between Rs. 5000-10000 Rs.175
Beyond Rs.10000 Rs.200
So according to your question you will have have to deduct PT to the extend of Rs 175/-
Hope your doubt is clear now.
Less than Rs. 2500 Nil
Between Rs. 2500-3500 Rs.60
Between Rs. 3500-5000 Rs.120
Between Rs. 5000-10000 Rs.175
Beyond Rs.10000 Rs.200
So according to your question you will have have to deduct PT to the extend of Rs 175/-
Hope your doubt is clear now.
15 May 2008
It it the Liability of the Director to Deduct Professional Tax from his personal emloyee Salary as per Maharashtra State Tax on Professions, Trades, Callings Employments Act, 1975.
Either you can directly deduct PT from the salary of Directors employee & debit full amount to directors A/c
following is the rate of taxes required to deduct from salary
(a) do not exceed rupees 2,500 - Nil
(b) exceed rupees 2,500 but do not
exceed rupees 3,500 - 60 per month
(c) exceed rupees 3,500 but do not
exceed rupees 5,000- 120 per month
(d) exceed rupees 5,000 but do not
exceed rupees 10,000 - 175 per month
(e) exceed rupees 10,000 -2500 per annum, to be paid in the following manner: -
a) rupees two hundred per month except for the month of February;
b) rupees three hundred for the month of February
Either you can directly deduct PT from the salary of Directors employee & debit full amount to directors A/c
following is the rate of taxes required to deduct from salary
(a) do not exceed rupees 2,500 - Nil
(b) exceed rupees 2,500 but do not
exceed rupees 3,500 - 60 per month
(c) exceed rupees 3,500 but do not
exceed rupees 5,000- 120 per month
(d) exceed rupees 5,000 but do not
exceed rupees 10,000 - 175 per month
(e) exceed rupees 10,000 -2500 per annum, to be paid in the following manner: -
a) rupees two hundred per month except for the month of February;
b) rupees three hundred for the month of February
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