What is PTAX in West Bengal?
The maximum amount is Rs. 2500 per year. In West Bengal, there are different slabs paid on a yearly basis by anyone with a salary that exceeds Rs. 8,500 monthly….West Bengal Professional Tax Slab Rate 2019-20:
| Monthly Gross Salary | Amount Payable as Professional Tax Per Month |
|---|---|
| Rs 10,001-Rs 15,000/- | Rs 110 |
How is PTAX 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….Professional tax slabs.
| State | Gross monthly salary (Rs.) | Tax per month (Rs.) |
|---|---|---|
| Madhya Pradesh | 15,000 and above | 212 |
| Bihar | 83,000 and above | 208 |
| Karnataka | 15,000 and above | 200 |
What is income tax slab for AY 2020 21?
New Income Tax Slab for FY 2020-21 & AY 2021-22
| Annual Income | New Tax Regime | Old Tax Regime |
|---|---|---|
| Rs.5 lakh – Rs.7.5 lakh | 10% | 20% |
| Rs.7.5 lakh – Rs.10 lakh | 15% | 20% |
| Rs.10 lakh – Rs.12.5 lakh | 20% | 30% |
| Rs.12.5 lakh – Rs.15 lakh | 25% | 30% |
What is the interest of professional tax in West Bengal?
PAYMENT OF INTEREST If an employer or enrolled person fails to pay tax as required under the law, he will be liable to pay simple interest @ 2% per month or part thereof on the amount due up to 31.3.
How is PTAX calculated in West Bengal?
You can pay your applicable tax at RTOs of the state both online and offline. Thus, first, you need to know how West Bengal Parivahan tax is calculated….
| Engine capacity | One time tax |
|---|---|
| 2.5 km-0.35 km | Rs.1560 |
| 0.35 km-0.50 km | Rs.3125 |
| 0.50km-0.75km | Rs.4685 |
| More than 0.75km | Rs.6250 |
Is P tax deducted on bonus?
21 October 2013 According to me : PT should not deduct on bonus. Becasue as per PT Act a person having salary exceed Rs. 10000/- should pay PT Rs. 2,500/- P.A and a person having salary exceed Rs.
What is PTAX salary?
Which states impose professional tax and what are the tax slabs?
| State | Income per Month | Tax Rate/Tax Amount (per month) |
|---|---|---|
| Karnataka | Up to Rs. 15,000 | Nil |
| Rs. 15,001 onwards | Rs. 200 | |
| Kerala (Half yearly income slabs and half yearly tax payment) | Up to Rs.11,999 | Nil |
| Rs.12,000 to Rs.17,999 | Rs.120 |
How is HRA calculated in salary?
In order to calculate the HRA, the salary is defined as the sum of the basic salary, dearness allowances and any other commissions. If an employee does not receive a commission or a dearness allowance, then the HRA will be around 40% – 50% of his/her basic salary.
What is slab rate?
Slab system means different tax rates are prescribed for different ranges of income. Income tax has classified three categories of “individual “taxpayers such as: Individuals (aged less than of 60 years) including residents and non-residents. Resident Senior citizens (60 to 80 years of age)
How is slab rate calculated?
1. Surcharge: If the total income is between Rs 50 Lakhs and Rs 1 crore – 10% on Income Tax. If the total income is above Rs 1 crore – 15% On the Income Tax….3. For Super Senior Citizens (more than 80 years)
| Income Slab | Tax Rate |
|---|---|
| Up to Rs 5,00,000 | No Tax |
| Rs 5,00,000- Rs 10,00,000 | 20% |
| Above Rs 10,00,000 | 30% |
How can I return PTAX in West Bengal?
A Taxpayer has to compulsorily file the ITR 3 Returns in West Bengal. The ITR 3 can be file electronically by: Furnishing the return under the Digital Signature Certificate. By Transmitting the data electronically and then submitting the verification of the return in Form ITR V.
How is road tax calculated on a bike?
The road tax for all four-wheelers is calculated by taking into consideration the cost price of the vehicle. Presently, the percentage of road tax in this state is 7%. For example, if your vehicle has an ex-showroom price of INR 5 lakhs, then you will have to pay a road tax of INR 35000.
What is West Bengal professional tax?
West Bengal Professional Tax The State Government levies tax on the income received by way of employment, profession, calling or trade, called as Professional Tax. It was first levied in 1949. Clause (2) of Article 276 gives power to the state to levy Professional tax.
How often are professional slab tax rates revised in West Bengal?
Each state government revises its professional slab tax rates at regular intervals, usually on yearly basis. Mentioned below is the revised rates of West Bengal Professional Tax for the financial year 2019-2020.
What are the tax requirements for self-employed in West Bengal?
For the self-employed, a certificate of enrolment is required to pay this direct tax, but they need not file any returns. For an employer, a certificate of registration, payment of monthly tax amount and annual filing of returns is mandatory. The following are the professional tax slabs and applicable monthly tax amount in West Bengal.
What is the professional tax rate?
Professional tax is subject to a minimum income level and it is levied as per slab rates applicable for different income levels. Professional tax slab rates vary from states to states. The maximum amount charged as professional tax is Rs. 2500 per year.
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