Friends,
Excerpts from speech of Finance Minister on 9.3.2018 during presentation of Maharashtra Budget 2018-19 regarding amendments in Profession Tax Act:
· It is proposed to include limited liability partnership (LLP) entities in the class of persons liable to pay Profession Tax.
· Every professional is required to obtain enrolment certificate and pay Profession Tax. The responsibility to collect Profession Tax from the professionals and pay it to the Government, shall be entrusted to the organizations, authorities with whom such professionals are engaged in economic activities. It is proposed to empower the
Government to issue notification, in this regard.
· An enrolled person is required to pay Profession Tax every year upto the age of 65 years whereas other professional entities are required to pay Profession Tax every year till the profession is continued. It is proposed to announce an attractive scheme to allow One-Time Payment of Tax (OTPT)at a concessional rate, instead of
paying tax every year.
· To make effective recoveries, it is proposed that the recovery provisions under the GST may be made applicable to recoveries under Profession Tax.
· To ensure optimum utilization of manpower, it is proposed to delegate certain statutory powers to the inspector.
· Gathering information from various organizations becomes necessary to trace the persons liable to tax for effective collection of Profession Tax revenue. Accordingly, it is proposed to empower the Commissioner to collect such information by issuing notification.
Thanks
From India, Malappuram
1444Excerpts from speech of Finance Minister on 9.3.2018 during presentation of Maharashtra Budget 2018-19 regarding amendments in Profession Tax Act:
· It is proposed to include limited liability partnership (LLP) entities in the class of persons liable to pay Profession Tax.
· Every professional is required to obtain enrolment certificate and pay Profession Tax. The responsibility to collect Profession Tax from the professionals and pay it to the Government, shall be entrusted to the organizations, authorities with whom such professionals are engaged in economic activities. It is proposed to empower the
Government to issue notification, in this regard.
· An enrolled person is required to pay Profession Tax every year upto the age of 65 years whereas other professional entities are required to pay Profession Tax every year till the profession is continued. It is proposed to announce an attractive scheme to allow One-Time Payment of Tax (OTPT)at a concessional rate, instead of
paying tax every year.
· To make effective recoveries, it is proposed that the recovery provisions under the GST may be made applicable to recoveries under Profession Tax.
· To ensure optimum utilization of manpower, it is proposed to delegate certain statutory powers to the inspector.
· Gathering information from various organizations becomes necessary to trace the persons liable to tax for effective collection of Profession Tax revenue. Accordingly, it is proposed to empower the Commissioner to collect such information by issuing notification.
Thanks
From India, Malappuram
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Maharashtra Profession Tax Act.docx
Maharashtra Profession Tax Ammendment 2014 010714-1.pdf