Professional tax exemption hiked to Rs 1.6 lakh

As part of its endeavour to usher in tax reforms and ensure greater tax compliance, the Orissa government has decided to raise the exemption limit of professional tax from the existing Rs 60,000 to Rs 160,000 per annum.

Besides, it has decided to constitute an advance ruling authority for effecting amendments in the for overcoming ambiguities in the Act. A sales tax tribunal will be set up for the settlement of cases pertaining to payment of the sales tax and the threshold limit for registration has been raised from Rs 3 lakh to Rs 5 lakh. These decisions were taken at the meeting of the state Cabinet chaired by Chief Minister Naveen Patnaik. For ministers, MPs and MLAs, the professional tax will be charged at the rate of Rs 125 per month for an income ranging from Rs 160000-Rs 300,000 while for income exceeding Rs 3 lakh, the tax will be Rs 200 per month for the first 11 months and Rs 300 for the last month of a financial year.

Similarly, for legal practitioners, including solicitors and notaries, the professional tax has been pegged at Rs 1500 per annum for the income ranging from Rs 150,000-Rs 300,000 whereas for income exceeding Rs 3 lakh, the tax has been fixed at Rs 1500 per annum.

The professional tax for the medical fraternity consisting of doctors (allopathic, homeopathic and ayurvedic) and paramedical staff like technicians and nurses has been pegged at Rs 1500 per annum for income in the range of Rs 160,000-Rs 300,00 whereas those with an income of over Rs 3 lakh per annum will have to pay Rs 2500 per annum.

The revision in professional tax limits would also apply to contractors, architects, postal agents, insurance agents, engineers, chartered accountants and cost accountants.

Apart from setting the tone for tax reforms, the Cabinet also decided to allot 91.465 ares of land at Sijua and Ranasinghpur on the outskirts of the city for the proposed centre of the All India Institute of Medical Sciences (AIIMS). The land will be allotted to at the rate of one rupee per acre. The state health and family welfare department will be given Rs 29.32 crore within two weeks for the AIIMS project. Of the total amount, land cost comes to Rs 21.09 crore while the remaining Rs 9.23 crore will be for external infrastructure for the premier medical centre.

The Cabinet also gave the nod for setting up of evening courts for expeditious trial of the pending petty cases. Around Rs 83 crore has been earmarked in the 13th for the establishment of these courts.

image
Business Standard
177 22
Business Standard

Professional tax exemption hiked to Rs 1.6 lakh

BS Reporter  |  Kolkata/ Bhubaneswar 



As part of its endeavour to usher in tax reforms and ensure greater tax compliance, the Orissa government has decided to raise the exemption limit of professional tax from the existing Rs 60,000 to Rs 160,000 per annum.

Besides, it has decided to constitute an advance ruling authority for effecting amendments in the for overcoming ambiguities in the Act. A sales tax tribunal will be set up for the settlement of cases pertaining to payment of the sales tax and the threshold limit for registration has been raised from Rs 3 lakh to Rs 5 lakh. These decisions were taken at the meeting of the state Cabinet chaired by Chief Minister Naveen Patnaik. For ministers, MPs and MLAs, the professional tax will be charged at the rate of Rs 125 per month for an income ranging from Rs 160000-Rs 300,000 while for income exceeding Rs 3 lakh, the tax will be Rs 200 per month for the first 11 months and Rs 300 for the last month of a financial year.

Similarly, for legal practitioners, including solicitors and notaries, the professional tax has been pegged at Rs 1500 per annum for the income ranging from Rs 150,000-Rs 300,000 whereas for income exceeding Rs 3 lakh, the tax has been fixed at Rs 1500 per annum.

The professional tax for the medical fraternity consisting of doctors (allopathic, homeopathic and ayurvedic) and paramedical staff like technicians and nurses has been pegged at Rs 1500 per annum for income in the range of Rs 160,000-Rs 300,00 whereas those with an income of over Rs 3 lakh per annum will have to pay Rs 2500 per annum.

The revision in professional tax limits would also apply to contractors, architects, postal agents, insurance agents, engineers, chartered accountants and cost accountants.

Apart from setting the tone for tax reforms, the Cabinet also decided to allot 91.465 ares of land at Sijua and Ranasinghpur on the outskirts of the city for the proposed centre of the All India Institute of Medical Sciences (AIIMS). The land will be allotted to at the rate of one rupee per acre. The state health and family welfare department will be given Rs 29.32 crore within two weeks for the AIIMS project. Of the total amount, land cost comes to Rs 21.09 crore while the remaining Rs 9.23 crore will be for external infrastructure for the premier medical centre.

The Cabinet also gave the nod for setting up of evening courts for expeditious trial of the pending petty cases. Around Rs 83 crore has been earmarked in the 13th for the establishment of these courts.

RECOMMENDED FOR YOU

Professional tax exemption hiked to Rs 1.6 lakh

As part of its endeavour to usher in tax reforms and ensure greater tax compliance, the Orissa government has decided to raise the exemption limit of professional tax from the existing Rs 60,000 to Rs 160,000 per annum.

As part of its endeavour to usher in tax reforms and ensure greater tax compliance, the Orissa government has decided to raise the exemption limit of professional tax from the existing Rs 60,000 to Rs 160,000 per annum.

Besides, it has decided to constitute an advance ruling authority for effecting amendments in the for overcoming ambiguities in the Act. A sales tax tribunal will be set up for the settlement of cases pertaining to payment of the sales tax and the threshold limit for registration has been raised from Rs 3 lakh to Rs 5 lakh. These decisions were taken at the meeting of the state Cabinet chaired by Chief Minister Naveen Patnaik. For ministers, MPs and MLAs, the professional tax will be charged at the rate of Rs 125 per month for an income ranging from Rs 160000-Rs 300,000 while for income exceeding Rs 3 lakh, the tax will be Rs 200 per month for the first 11 months and Rs 300 for the last month of a financial year.

Similarly, for legal practitioners, including solicitors and notaries, the professional tax has been pegged at Rs 1500 per annum for the income ranging from Rs 150,000-Rs 300,000 whereas for income exceeding Rs 3 lakh, the tax has been fixed at Rs 1500 per annum.

The professional tax for the medical fraternity consisting of doctors (allopathic, homeopathic and ayurvedic) and paramedical staff like technicians and nurses has been pegged at Rs 1500 per annum for income in the range of Rs 160,000-Rs 300,00 whereas those with an income of over Rs 3 lakh per annum will have to pay Rs 2500 per annum.

The revision in professional tax limits would also apply to contractors, architects, postal agents, insurance agents, engineers, chartered accountants and cost accountants.

Apart from setting the tone for tax reforms, the Cabinet also decided to allot 91.465 ares of land at Sijua and Ranasinghpur on the outskirts of the city for the proposed centre of the All India Institute of Medical Sciences (AIIMS). The land will be allotted to at the rate of one rupee per acre. The state health and family welfare department will be given Rs 29.32 crore within two weeks for the AIIMS project. Of the total amount, land cost comes to Rs 21.09 crore while the remaining Rs 9.23 crore will be for external infrastructure for the premier medical centre.

The Cabinet also gave the nod for setting up of evening courts for expeditious trial of the pending petty cases. Around Rs 83 crore has been earmarked in the 13th for the establishment of these courts.

image
Business Standard
177 22

More News

  • Power Minister Piyush Goyal No reason to hold minority stake in Hindustan Zinc, says Piyush Goyal
  • New acquisition sets the wheel in motion for JK Tyre Chinese tyre imports rise by 40% in June quarter
Widgets Magazine

Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard