Excerpts from the Speech of the Finance Minister on 9.3.2018
During the presentation of the Maharashtra Budget 2018-19, several amendments in the Profession Tax Act were proposed:
- 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 an enrollment 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 and authorities with whom such professionals are engaged in economic activities. It is proposed to empower the Government to issue a notification in this regard.
- An enrolled person is required to pay Profession Tax every year up to the age of 65 years, whereas other professional entities are required to pay Profession Tax every year until 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 the 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 the effective collection of Profession Tax revenue. Accordingly, it is proposed to empower the Commissioner to collect such information by issuing a notification.
From India, Malappuram
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1446During the presentation of the Maharashtra Budget 2018-19, several amendments in the Profession Tax Act were proposed:
- 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 an enrollment 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 and authorities with whom such professionals are engaged in economic activities. It is proposed to empower the Government to issue a notification in this regard.
- An enrolled person is required to pay Profession Tax every year up to the age of 65 years, whereas other professional entities are required to pay Profession Tax every year until 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 the 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 the effective collection of Profession Tax revenue. Accordingly, it is proposed to empower the Commissioner to collect such information by issuing a notification.
From India, Malappuram
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PROFESSION TAX ACT.pdf