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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 other type of Swedish payroll tax is the income tax withheld , which consists of municipal, county, and, for higher income brackets, state tax. In most municipalities, the income tax comes to approximately 32 percent, with the two higher income brackets also paying a state tax of 20 or 25 percent respectively.
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The Code on Wages is the first of the proposed codes. The other three are the Occupational Safety, Health and Working Conditions Code, the Industrial Relations Code, and the Code on Social Security, which have been passed in 2020 but not yet come into force because the date of coming into force is yet to be notified in the official gazette. [1]
The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. [1] Subsequent Budget of FY2021-22 did not see any major announcements in this regime. [ 2 ] During the Budget 2022–23, reports emerged that New Tax Regime was getting poor response [ 3 ] and Government is considering to make it more attractive ...
The Ministry of Revenue is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] [2] The ministry is headed by a Cabinet level by Chandrashekhar Bawankule, current minister of revenue.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the Indian workforce - are generally excluded from paying income tax in India. Income tax returns are due in India generally on 31 July, 30 September or 30 November, depending on the category of taxpayer. Everyone who earns or gets an ...