FORM XVI APPEALREVISION APPLICATION AGAINST an ORDER of ASSESSMENTAPPEALPENALTYINTEREST See Rule 25 to
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People also ask
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Who are exempted from professional tax in Karnataka?
As per the Karnataka professional tax slab rates, all individuals with a monthly gross income less than Rs 15,000 are currently exempted from any charges. However, employees with a monthly gross salary above Rs 15,000 are levied a professional tax of Rs 200. The same has been increased to Rs 25,000 now.
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What is the interest on late payment of professional tax in Odisha?
Failure to deduct or pay professional tax may incur a simple interest of 2% (each month) of the tax due amount or part of the remaining unpaid tax period.
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When professional tax is applicable in Karnataka?
All working and self-employed professionals whose monthly income is above Rs. 1000 need to pay professional tax in Karnataka. Professional earning less than Rs. 10000 need not pay any professional tax to the Karnataka Government.
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Is professional tax exemption for senior citizens in Karnataka?
15,000 a month from payment of professional tax as against the present limit of Rs. 10,000 a month. The age of senior citizens has been reduced from the present 65 years to 60 years to extend the benefit of exemption from payment of professional tax.
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Who has to pay professional tax in Karnataka?
The professional tax must be remitted by individuals and business entities engaged in any profession, trade, callings or employment — government and private. It is mandatory for both salaried and self-employed individuals to pay professional tax, which is collected by the Karnataka State Government.
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What is the interest & penalty on late payment of professional tax in Karnataka?
1.25% is charged per month for late payment of professional tax in Karnataka. The maximum penalty charged for late payment is 50% of the total outstanding amount.
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Is professional tax registration mandatory in Karnataka?
Registration of Professional tax in Karnataka is mandatory for the business within 30 days of employing staff and for professionals within 30 days of starting their practice. The professional tax has to be deducted from the salary/wages paid.
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What is the penalty for professional tax in Karnataka?
If persons responsible for paying professional tax in Karnataka fail to do so within the stipulated time, they have to pay 1.25% per month for late payment. Note: The Karnataka State Government can charge the highest 50% of the total due of P tax amount as a penalty charge.
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