images
add

Bihar promulgates professional tax Act

By jpgupta |

31st August 2011

The Bihar government has approved the Bihar Profession, Business, Livelihood and Employment Tax Act, 2011.The state cabinet at its meeting held on Tuesday evening okayed the new rules, which would come into effect from September 2011. Under the new rule, every person earning either through service, profession, trade, business and other employment will now have to pay professional tax.

Patna: The Bihar government has approved the Bihar Profession, Business, Livelihood and Employment Tax Act, 2011.

The state cabinet at its meeting held on Tuesday evening okayed the new rules, which would come into effect from September 2011.

Under the new rule, every person earning either through service, profession, trade, business and other employment will now have to pay professional tax.

A person having an annual income of Rs 3.5 lakh will have to pay professional tax at the rate of Rs 1,000 per year. Those in the income bracket of Rs 5 to Rs 10 lakh will have to pay Rs 2,000 per year and those coming under the income bracket of Rs 10 lakh and above will have to pay 2,500 per year.

"The government will be able to generate about Rs 75 crore through profession tax per year," Cabinet Secretary Ravi Kant said.

He said the professional tax would be collected by the Commercial Taxes Department and handed over to the local bodies.

"Defaulters will have to undergo three months imprisonment or pay Rs 5,000 as penalty or a penalty double than the professional tax due," he added.

This tax would be deducted from the salary. Those who earn livelihood by way of professional income, trade and business and through other ways of employment would have to be registered for the purpose and deposit the professional tax in the government treasury through 'challan'.

comments powered by Disqus
Rs 5,200 cr scheme for improving power network...

The scheme is to be taken up under a new Central Sector Plan Scheme of Ministry of...

Cabinet nod for Rs 32,612 cr power scheme

Money will be used for strengthening of sub-transmission and distribution network...

Kerala mulls bill to contain black magic

Numbers of sorcery cases have increased

latest opinion

Can BI & Analytics eradicate Poverty from India?...

Sanjeev Thukral

Country Sales Director , Steria India Limited
DeitY releases draft IOT policy

Sanjay Kumar

Senior Assistant Editor , CIO & Leader
National Information Infrastructure (NII) 2.0...

Sanjay Kumar

Senior Assistant Editor , CIO & Leaders

survey & reports

add
close