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Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.
The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
However, for individuals, tax is payable at slab rates. In the Finance Act, 2020 the Government introduced a new tax regime for individuals giving them the option to opt for the new regime or continue with the old regime. [11] The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the ...
Reducing the earlier six payable slabs for computing individual income tax to five in the New Tax Regime, the Finance Minister proposed higher threshold limit of ₹3 lakh from existing ₹2.5 lakh for taxpayers. [17] new Slab The implementation of improved limits in tax slabs is said to provide significant relief to taxpayers under the new regime.
Bihar also has the largest growing mobile phone market in India. Bihar registered the maximum increase in annual telecom subscribers, marking a growth of 88.2% in fiscal 2007–2008 as compared to the 51.1% in 2006–2007. The total number of mobile phones in Bihar increased from 5,773,370 in 2006–07 to 10,869,459 in 2007–2008. [44] Jobs
There was no change in income tax slabs of individuals. [4] The wealth tax was abolished. The surcharge on individuals, Hindu Undivided Families (HUF), associations of persons (AOPs), bodies of individuals (BOI)s, artificial juridical persons, firms, cooperative societies and local authorities having income earning ₹1 crore or more, was raised from 10% to 12%.
If you’re stuck on today’s Wordle answer, we’re here to help—but beware of spoilers for Wordle 1257 ahead. Let's start with a few hints.
Bihar is one of the six states where bicameral legislature exists. Other states are Uttar Pradesh, Karnataka, Maharashtra, Telangana and Andhra Pradesh. The Bihar Legislative Council is Vidhan Parishad serves as the upper house and Bihar Legislative Assembly is Vidhan Sabha serves as the lower house of the bicameral legislature of the Indian ...