What is the rate of tax of male individual for the assessment year 2011 to 2012?
Income Tax Rate for FY 2011-12 or AY 2012-13
| Tax rate | Men | Very senior Citizen (Age above 80) |
|---|---|---|
| Nil | 180000 | 500000 |
| 10% | 180001 to 500000 | – |
| 20% | 500001 to 800000 | 500001 to 800000 |
| 30% | Above 800000 | Above 800000 |
What is the professional tax percentage?
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 P tax calculated?
For example, if you are a working professional in Gujarat earning Rs. 20,000 a month, your monthly professional tax will amount to Rs. 200 and your annual professional tax will be Rs. 2400.
Is PTEC compulsory?
Obtaining a PTEC registration is mandatory within 30 days from the date of incorporation or start of the business or practice, i.e; you have to apply for PTEC within 30 days of obtaining S & E license, Certificate of Incorporation, Service Tax RC, Sales Tax RC, etc.
How can I reduce my professional tax?
The maximum amount of professional tax that can be levied by a state is Rs 2,500. It is usually deducted by the employer and deposited with the state government. In your income tax return, professional tax is allowed as a deduction from your salary income.
In which states professional tax is not applicable?
While states like Karnataka and Maharashtra have profession tax, there is no such tax applicable in Delhi and Haryana.
Is professional tax exempted?
The following individuals are exempted to pay Professional Tax: Parents of children with permanent disability or mental disability. Members of the forces as defined in the Army Act, 1950, the Air Force Act, 1950 and the Navy Act, 1957 including members of auxiliary forces or reservists, serving in the state.
Is professional tax paid monthly or yearly?
It is paid by dividing the annual professional tax due into 12 equal instalments, which are to be paid every month. February, as a month, is an exception where the tax is higher than the other months. There might be situations where sources of income falling under different sectors are also liable for a separate tax.
Is professional tax calculated on gross salary or net salary?
Professional tax is calculated every month based on your gross salary for that month. Say your CTC is Rs. 50,000 per month, and after deduction of your EPF, gratuity, and leave deduction or payment towards any loan you may have taken from the company in the past, your gross salary comes to Rs. 40,000.
How do I file a Ptrc return for FY 2020 21?
For E.g Return for FY 2020-21 shall be furnish on or before 31st March 2021 if total liability in previous year was less than Rs 1,00,000/- ….
| Amount of PTRC liability for the FY 2019-20 | Due Date and Type of Return |
|---|---|
| More than Rs. 50,000 | On or before the last date of the month to which the return relates (Monthly return) |
What is PTR no?
February 4, 2019. This post is a step by step guide on how to get your own Professional Tax Receipt (PTR) or Occupational Tax Receipt so you can practice your profession legally in the Philippines. PTR is one of the documents needed when applying for a business permit as a self-employed freelancer in BIR.
What is a PTR report?
The Performance Test Report (PTR) provides a record of the Performance results taken from product produced during the production process run. Unless the customer specific requirements (PPAP Element 18) differ, the results relate to the method defined within the Test Inspection Criteria (TIC) for ongoing production.