What is Profession Tax?

Answer Posted / guest

It is an imposition of tax as enforceable with effect from
1.11.2000 on the persons of different professions, trade,
callings and employment as per the scheduled rate of tax
depending upon the class of assesses.

Is This Answer Correct ?    45 Yes 22 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Explain the procedure to calculate provident fund, esi, vat and sales tax.

774


if a person is investing rs.100 per month for 11 months of a year,how much ammount of annuity he will be paid at the end of year?

1527


Type of form use in sales Tax

1574


WHAT IS THE PROVISION OF TDS RECEIVABLE AT THE TIME OF YEAR ENDING GIVE THE EXAMPLE WITH ENTERY ON MY E.MAIL sonidilip87@yahoo.com

2825


what should be the research and methodology of business taxation?

1731






what is the difference between vat return and return for remittance on value added tax.

2290


What is the procedure to intimate Change Name of Business in maharashtra Vat Act, which form to be fill.

2534


interest paid to bank rs.15000 in conection with statutory income tax proceedings.

1726


I run a small consultancy firm (partnership with my mother) from my residence address. My firm is not registered, but I do have a separate PAN for it. I do not have any salaried employees. I get work done by freelancers and vendors and pay them against invoice. My annual revenues are just about Rs 5-6 lakhs. I am aware that I would need to register for service tax once I touch Rs 9 lakhs. But I am confused about my obligation to get a TAN and deduct TDS for all vendor/freelancer payments. Are there any minimum thresholds for withholding TDS? Right now I pay 100% of invoice amounts. Please advise.

1552


Define assessment year.

834


Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me

1788


what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?

1813


80DD Dediction

1514


if i paid interest on tds for ex:- tds deducted on rent for the month of april, may, june rs. 20000 each for month and tds paid on 7th july then i have to pay interest @ 1.5% for rs. 1200 , 900 , 600 respectively , so i wanted to know what is the entry for rising of this interest in accounting software other than tally

1178


what are accounting principles

1658