Professional Tax

DEFINITION FORMS

An Act to provide for the levy & collection of tax on

professionals , trade callings & employment in the
state. Came into force in 1976 Annual Return Monthly Return

FORM 5 FORM 5 A

DOWNLOAD FORM

http://ctax.kar.nic.in
/prof_forms.htm

To use Calculator Open this Link PT

 SLAB DATE OF PAYMENT

Amount Tax 15th of succeeding month

+ additional 5 days grace
thly Return Less than 3000 Nil

3000 - 5000 30

5000 - 8000 60

8000 - 10000 100

10000 - 15000 150

More than 15000 200

eding month
5 days grace
 Provident Fund

DEFINITION

"Employee" as defined in Section 2(f) of the Act means any person who is
employee for wages in any kind of work manual or otherwise, in or in connection
with the work of an establishment and who gets wages directly or indirectly from
the employer and includes any person employed by or through a contractor in or
in connection with the work of the establishment.

Basic Wages" means all emoluments which are earned by employee while on
duty or on leave or holiday with wages in either case in accordance with the
terms of the contract of employment and witch are paid or payable in cash, but
dose not include
(A) The cash value of any food concession;
(B) Any dearness allowance (that is to say, all cash payment by whatever name
called paid to an employee on account of a rise in the cost of living), house rent
allowance, overtime allowance, bonus, commission or any other allowance
payable to the employee in respect of employment or of work done in such
employment.
(C) Any present made by the employer.

To use Calculator Open this Link PF

 FORMS SLAB

http://epfindia. Employee Rate:-

nic.in/downloa
ds_forms.htm 8.33% Pension Fund
3.67% PF Fund

Employer Rate:-
DUE
12% Basic
DATE
1.61% Admin Charges

15th of
Succeeding
Month + 5
days of
Grace
 Employees State Insurance Scheme

FORMS
DEFINITION

http://esic.nic.in/
forms.htm
The promulgation of Employees’ State Insurance Act, 1948 envisaged an
integrated need based social insurance scheme that would protect the
interest of workers in contingencies such as sickness, maternity,
temporary or permanent physical disablement, death due to
DUE DATE
employment injury resulting in loss of wages or earning capacity. the
Act also guarantees reasonably good medical care to workers and their
immediate dependants.

16th of the
Succeeding month
+ 5 days of Grace

To use Calculator Open this Link ESI

 FORMS SLAB

tp://esic.nic.in/ Employee:-
forms.htm 1.75% of Basic

Employer:-
4.75% of Basic
&
DUE DATE Admin Charges
1.61%

16th of the
ucceeding month
+ 5 days of Grace
 Tax Deducted at Source

TDS Contractors TDS Professions TDS Commission

SEC --- 194 C of Income SEC - 194 J of SEC - 194 H of

Tax Act Income Tax Act Income Tax Act

RATE SLAB RATE SLAB RATE SLAB

Particulars Rate Particulars Rate Particulars Rate

Income Tax 2% Income Tax 10% Income Tax 10%

Surcharge 10% Surcharge 10% Surcharge 10%

Cess 3% Cess 3% Cess 3%

Total 2.266% Total 11.33% Total 11.33%

OPEN THIS LINK TO USE CALCULATOR TDS CALCULATOR

FORMS

http://www.incometaxmumbai.
nic.in/taxpayer/tds.htm
TDS Commission TDS Rent
DUE DATE

7th of the succeeding

month. Challan no 281
SEC - 194 H of SEC - 194 I of
Income Tax Act Income Tax Act
Quarterly Payment:-
Returns 24Q, 26Q & 27EQ
15th of the
Succeeding month of
RATE SLAB RATE SLAB that particular ended

articulars Rate Particulars Rate

come Tax 10% Income Tax 20%

urcharge 10% Surcharge 10%

Cess 3% Cess 3%

otal 11.33% Total 22.66%

 Challan no 281

turns 24Q, 26Q & 27EQ

 PAN
Name:- NOTE:- AT some places Formulae are Previous Year
Address : feed into the blanks, Please do not change Assessment Year
those blanks as TAX COMPUTATION may Sex
go wrong.

TYPE (+) / (-) PARICULARS OTHERS AMOUNT

Basic
Dearness Allownace
House Rent Allowance
Conveyance
SodexHo Allowance
INCOME FROM SALRAIES

Gift Coupons
Prequisities- Assets
Other Allowance
TOTAL 0

(+) Allowances Taxed if bills not produced

Medical Allowance
Leave Travel Allowance
Education Allowance
Telephone Allowance
SodexHo Allowance
Club Membership
Driver's Allowance
Petrol Allowance
GROSS SALARY 0

(-) Exemptions Under Sec 10

House Rent Allowance ( 13 A )

Computation 40% of Basic + Dearness Allowance

or House Rent Allowance Received
or Excess of Rent Paid over 10% BASIC + DA
or Rent paid during the year
Note:- Whichever is least should be taken

It can be claimed 2 Conveyance U/s ( 14 )

times in a block of 4 Leave Travel Allownace
years ( 2006 - 2009 )
Medical Reimbursement 0 0
SodexHo Coupons
Interest repayment on Education Allowances
higher education /
Telephone Reimbursement
university is exempted
Gift coupons
Petrol Reimbursement
Driver Reimbursement
Club membership
TOTAL EXEMPTION

NET SALARY

(-) Deduction U/S 16

Professional Tax U/s 16 ( iii )
 TOTAL DEDUCTIONS

TOTAL SALARY INCOME

(-) Deduction under Chapter VI A

INCOME FROM HOUSE PROPERTY

U/s 80 C
Employee Contribution to Provident Fund

Max Upto 1,00,000

Life Insurance Premia
Public Provident Fund
National Saving Certificate VIII Issue
Principle for Housing Loan Repayment
Payment for Tution Fees
Purchase of Infrastructure Bonds
Term deposits
Under Sec 80CCC Pensions

TOTAL

Other Deductions
U/s G ( Donations )
U/s GGA ( Donations )
U/s D ( Medical Insurance premia )
U/s E ( Interest on Educational Loan )
U/s DD ( Medical Treatment for handicapped )

TOTAL
CESS
BREAK UP
TAXABLE INCOME
2% & 1%
TAX ON TOTAL INCOME
(+) Surcharge
(+) Educational Cess

TOTAL TAX PAYABLE

Tax Deducted at Source

By
By
By
TOTAL
TAX DEDUCTABLE

MONTH WISE PRORATA

EXCESS DEDUCTION
 : 2007-08
: 2008-09 DOWNLOAD FORM CLICK IN BOX BELOW
MALE

TOTAL FOR THE YEAR http://www.incometaxmumbai.nic.in/tax

payer/tds.htm#http://www.incometaxmu
0 mbai.nic.in/taxpayer/tds.htm
This is required to be filled by you
0
0
0 Exemption :- 800 p.m.
For Disable:- 1600 p.m.
0
0
0
0
0
Exempted amount:-
15,000 p.a i.e. 1,250
p.m
0 This can be claimed 2
0 times in a block of 4
0 years ( 2006-2009 )
0
0
0
0
0
0

0
The amount least
0 among the following
0 should be
- considered
0
0
According to Income Tax Act a max of 9600
0 can be claimed for conveyance IF
0
If above 65 yea
0 A max of 15,000 p.a. can be claimed i.e.1250 charged
0 p.m.
0 Children staying with parents exemption of Rs 100 p.m. , if in hostel exem
0 with the
0 exemption allowed for only a max of 2 children
0
0
0
0

0 A Max of Rs 200 p.m. which = 2400 p.a.

 A Max of Rs 200 p.m. which = 2400 p.a.
0

0
0
0
0
0
0
0
0
0

0 Normal Donations are exempted

0 Donations Towards Research & Development are
0 exempted
0
0 Disable <80%:--- 50,000 exempted
Disable >80%:--- 75,000 exempted
0 Diseases:--- <65 years:---- 40,000 p.a.
>65 years:---- 60,000 p.a.
0 Blind:---- 50,000 p.a. Exempted

0
0 SURCHARGE IS APPLICABLE @ 10% if income is 10,00,000 &
0 above

0
0
0
0
0

0 Monthly deduction of tax for the year

You can put remaining months incase TDS already deducted
0 And you need to consider the Tax in the preceeding ROW
 If above 65 years an additional 5000 can be
charged which is 20,000 p .a .

Rs 100 p.m. , if in hostel exemption of Rs 300 p.m.

th the
r only a max of 2 children
earch & Development are
mpted
 Fringe Benefit Tax

DEFINITION

The Finance Act, 2005 has introduced a new levy, namely, Fringe Benefit Tax (hereafter
referred to as FBT) on the value of certain fringe benefits. The provisions relating to levy of
this tax
are contained in Chapter XII-H (sections 115W to 115WL) of the Income-tax Act, 1961. This
circular seeks to provide a harmonious, purposive and contextual interpretation of the
provisions of
the Finance Act, 2005 relating to the FBT so as to further the objective of this levy.

PAYMENT OF FBT

The
employer is required to pay advance tax at the rate of 30% of the current
fringe benefits paid or
payable in each quarter. The advance tax is to be paid on or before the
15th of the month following
that quarter. However, in the case of the last quarter ending on the 31st
of March of the financial
year, the advance tax shall be payable on or before the 15 th day of
March of that year.

BREAK UP:-

(1) 20%
(2) 30%
(3) 30%
(4) 25%
To use Calculator Open this Link FBT
 CLASSES OF FBT

Tax (hereafter
lating to levy of
(A) entertainment;
Act, 1961. This (B) provision of hospitality of every kind to any person,
etation of the whether by way of food or
beverages or in any other manner excluding food or beverages
of this levy. provided to the
employees in the office or factory or non transferable paid
vouchers usable only at
eating joints or outlets;
(C) conference excluding fee for participation by the
employees in any conference;
(D) sales promotion including publicity but excluding
specified expenditure on
advertisement;
(E) employee welfare excluding any expenditure or payment
made to fulfill any
statutory obligations or mitigate occupational hazards or
provide first aid facilities in
the hospital or dispensary run by the employer;
(F) conveyance tour and travel (including foreign travel);
(G) use of hotel, boarding and lodging facilities;
(H) repair, running (including fuel) and maintenance of
motorcars and the amount of
depreciation thereon;
(I) repair, running (including fuel) and maintenance of aircrafts
and the amount of
depreciation thereon;
(J) use of telephone (including mobile phone) other than
expenditure on leased
telephone lines;
(K) maintenance of any accommodation in the nature of guest
house other than
accommodation used for training purposes;
(L) festival celebrations;
(M) use of health club and similar facilities;
(N) use of any other club facilities;
 Value Added Tax

Value Added Tax is levied on Due Date:- 20th of

products sold in the state at Succeeding Month under
various rates namely 0%, 1%, 4%, Form 100
12.5%
 To Download Forms
Click on the Box below

http://ctax.kar.nic.in/Final_VAT_
FORMS_FOR_WEB.doc
 Service Tax

To download forms click Due Date:- 5th of

on the box Below Succeeding month MONTHLY
in GAR- 7 Challan

http://www.servicetax.gov.
in/st-formmainpg.htm
15th of the
Succeeding month
in which Quarter QUARTERLY
ended in ST-3
 RATE:-
MONTHLY
Income Tax Cess

12% 3%

Total:- 12.36%

QUARTERLY
Checklist of usual statutory compliances for the month of January 2008

Due Date Month Area Obligation

5 Jan Service Tax Monthly Deposit of Service Tax from cooperate Assesses
7 Jan TDS Deposit TDS/TCS Deposit
14 Jan TDS Filling of Quarterly TDS return of NRI
15 Jan TDS Filling of Quarterly TDS/ TCS
15 Jan FBT Quarterly payment of FBT
15 Jan Service Tax Quarterly payment of service tax
Deposit of TDS and filing of the TDS Return under Karnataka
20 Jan KVAT VAT
Monthly filing of the VAT return under the Karnataka VAT for
20 Jan KVAT regular dealers
20 Jan CST - Karnataka Monthly filing of the CST return in the state of Karnataka
Deposit of TDS and filing of the TDS Return under Tamil Nadu
20 Jan TNVAT VAT

20 Jan TNVAT Monthly filing of the VAT return under the Tamil Nadu VAT

20 Jan CST - TN Monthly filing of the CST return in the state of Tamil Nadu
Monthly filing of the VAT return under the Andhra Pradesh
20 Jan APVAT VAT

20 Jan CST - AP Monthly filing of the CST return in the state of Andhra Pradesh

31 Jan TDS Issue TDS certificate

 Form Notes
GAR-7 The Service tax liability of DEC to be deposited by 5th JAN
Challan 281 The TDS liability of DEC to be deposited by 7th JAN
Return No 27 The liability for quarter ended DEC to be deposited by 14th JAN
Return no:- 24Q & 26Q & 27EQ The liability for quarter ended DEC to be deposited by 15th JAN
The liability of 3rd Quarter ( OCT to DEC ) to be deposited by 15th JAN
Form ST- 3 The liability of 3rd Quarter ( OCT to DEC ) to be deposited by 15th JAN

Form 126 The liability of TDS on VAT for the month of DEC to be deposited by 20th JAN

VAT 100 The VAT liability for the month of DEC to be deposited by 20th JAN
VAT 100 The CST liability for the month of DEC to be deposited by 20th JAN

Form T The liability of TDS on VAT for the month of DEC to be deposited by 20th JAN

Form I The VAT liability for the month of DEC to be deposited by 20th JAN

Form I The CST liability for the month of DEC to be deposited by 20th JAN

VAT 200 The VAT liability for the month of DEC to be deposited by 20th JAN

Form VI The CST liability for the month of NOV to be deposited by 20th DEC
Issue TDS Certificate for tax deducted during previous month if the
Form 16 A deductee has not opted for annual TDS certificate.
Checklist of usual statutory compliances for the month of February 2008

Due Date Month Area Obligation

5 Feb Service Tax Monthly Deposit of Service Tax from cooperate Assesee
7 Feb TDS Deposit TDS/TCS Deposit
Deposit of TDS and filing of the TDS Return under Karnataka
20 Feb KVAT VAT
Monthly filing of the VAT return under the Karnataka VAT for
20 Feb KVAT regular dealers
20 Feb CST - Karnataka Monthly filing of the CST return in the state of Karnataka
Deposit of TDS and filing of the TDS Return under Tamil Nadu
20 Feb TNVAT VAT

20 Feb TNVAT Monthly filing of the VAT return under the Tamil Nadu VAT

20 Feb CST - TN Monthly filing of the CST return in the state of Tamil Nadu
Monthly filing of the VAT return under the Andhra Pradesh
20 Feb APVAT VAT

20 Feb CST - AP Monthly filing of the CST return in the state of Andhra Pradesh

28 Feb TDS Issue TDS certificate

 Form Notes
GAR-7 The Service tax liability of DEC to be deposited by 5th JAN
Challan 281 The TDS liability of JAN to be deposited by 7th FEB

Form 126 The liability of TDS on VAT for the month of JAN to be deposited by 20th FEB

VAT 100 The VAT liability for the month of JAN to be deposited by 20th FEB
VAT 100 The CST liability for the month of JAN to be deposited by 20th FEB

Form T The liability of TDS on VAT for the month of JAN to be deposited by 20th FEB

Form I The VAT liability for the month of JAN to be deposited by 20th FEB

Form I The CST liability for the month of JAN to be deposited by 20th FEB

VAT 200 The VAT liability for the month of JAN to be deposited by 20th FEB

Form VI The CST liability for the month of JAN to be deposited by 20th FEB
Issue TDS Certificate for tax deducted during previous month if the
Form 16 A deductee has not opted for annual TDS certificate.
 PT PT Computation

SL.NO Name Salary Amount of PT DOJ DOR

1 0
2 0
3 0
4 0
5 0
6 0
7 0
8 0
9 0
10 0
11 0
12 0
13 0
14 0
15 0
16 0
17 0
18 0
19 0
20 0
21 0
22 0
23 0
24 0

Total of PT amount 0

Rate of Interest

No. of months Delay

Interset Amount 0

GRAND TOTAL ( INCL OF INT ) 0

 You are required to fill in the
amounts of the concerned
person's salary, it will show the
amount of PT to be deducted
PF PF Computation

8.33% goes to PENSION Fund

3.67% goes to PF Fund

Basic Salary Amount of Contribution

SL.No Employee Employer Employee Employer Admin Charges

1 0 0 0
2 0 0 0
3 0 0 0
4 0 0 0
5 0 0 0
6 0 0 0
7 0 0 0
8 0 0 0
9 0 0 0
10 0 0 0

This column is This Column is

used for filling used for filing
up the BASIC up the BASIC 1.1% of
salary of 0.5% of
salary of Employers
Employee Basic
Employer Basic Salary
Salary Employer
has to pay
EDLIS

Total Percentage
contributed by
Employer is 12%
+1.61%= 13.61%
 This Amount constitutes
12% of Employers Basic

Total

0
0
0
0
0
0
0
0
0
0

0.01% of Basic
salary Employer
has to pay
towards Admin
Charges of EDLIS
Employee Deposit Link Insurance Scheme

Percentage
tributed by
oyer is 12%
1%= 13.61%
ESI ESI Computation

1.75% of Basic salary ( Eligibility:- Rs 50 4.75% of Basic salary

& above per day )

Basic Salary Amount of deduction

SL.NO Employee Employer Employee Employer Admin Charges

1 0 0 0
2
3
4
5
6
7
8
9
10

This column This column

is used for is used fro
filing up the filing up the
Basic salary Basic salary
of Employee of Employer
4.75% of Basic salary

Total
SAME AS PF
CHARGES
0
 TDS CALCULATOR
1 194 C 0 0 0
2 194 C 0 0 0
3 194 C 0 0 0
4 194 C 0 0 0
5 194 C 0 0 0
6 194 C 0 0 0
7 194 C 0 0 0
8 194 C 0 0 0
9 194 C 0 0 0
10 194 C 0 0 0
11 194 C 0 0 0
12 194 C 0 0 0
13 194 C 0 0 0
14 194 C 0 0 0
15 194 C 0 0 0
16 194 C 0 0 0
17 194 C 0 0 0
18 194 C 0 0 0
19 194 C 0 0 0
20 194 C 0 0 0
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
0 2 0.2 0.066 2.266
FBT Name of Company:-

FBT

Clause of Section
PARTICULARS AMOUNT Deductions if any Total
115WB(2)

(A). Entertainment - - -
(B). Hospitality of every kind
to any person - - -
(C). Conference (other than
fee for participation)
- - -
(D). Sales promotion,
including publicity
excluding advertisement
- - -
(E). Employees Welfare - - -
(F). Boarding & Lodging - - -
Local Conveyance - - -
(G). Travel expense - - -
(H). Repair, running(including
Fuel), maintenance of
motorcars and
depreciation thereon
- - -
(I) Repair, Running(including
fuel), maintenance of
aircraft and depreciation
thereon
- - -
(J). Use of Telephone
including mobile
phone(other than leased
lines) - - -
(K). Maintenance of
accommodation in the
nature of guest houses
(Other than for training
purposes) - - -
(L). Festival celebration - - -
(M). Use of health club and
similar facilities - - -
(N). Use of any other club
facilities - - -
(O). Gifts - - -
(P). Scholarship - - -
115WB(1)(b) Any Free or Concessional
ticket for private journeys
(ACTUALS)
- - -
115WB(1)(c) Contribution to
Superannuation fund
(ACTUALS) - - -
Total - - -
 Enter Amount Here Only
FBT

Percentage
Value of Clause of
expenditure/
fringe Section PARTICULARS Amount
Payment being
benefits 115WB(2)
fringe benefits

First
Quarter

20% - (A). Entertainment -

(B). Hospitality of every kind
20% - to any person -
(C). Conference (other than
fee for participation)
20% - -
(D). Sales promotion,
including publicity
excluding advertisement
20% - -
20% - (E). Employees Welfare -
20% - (F). Boarding & Lodging -
20% - Local Conveyance -
20% - (G). Travel expense -
(H). Repair,
running(including Fuel),
maintenance of
motorcars and
20% - depreciation thereon -
(I) Repair,
Running(including fuel),
maintenance of aircraft
and depreciation thereon
0% - -
(J). Use of Telephone
including mobile
phone(other than leased
20% - lines)
(K). Maintenance of
accommodation in the
nature of guest houses
(Other than for training
20% - purposes) -
50% - (L). Festival celebration
(M). Use of health club and
50% - similar facilities -
(N). Use of any other club
50% - facilities -
50% - (O). Gifts
50% - (P). Scholarship -
 115WB(1)(b) Any Free or Concessional
ticket for private
journeys (ACTUALS)
100% - -
115WB(1)(c) Contribution to
Superannuation fund
100% - (ACTUALS) -
- Total per Quarter -
Total of Quarter
 Amount Deductions if any

Second Thrid Fourth First Second Thrid Fourth

TOTAL TOTAL
Quarter Quarter Quarter Quarter Quarter Quarter Quarter

- - - - - - - - -

- - - - - - - - -

- - - - - - - - -

- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

- - - - - - - - -

- - - - - - - - -

- - - - - - - - -

- - - - - - - - -
- - - - - - - - -

- - - - - - - - -

- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

- - - - - - - - -
- - - - - - -
- -
 Percentage
Value of
expenditure/
Total fringe
Payment being
benefits
fringe benefits

- 20% -
IF THE COMPANY IS ENGAGED IN
- 20% - HOTEL BUSINESS ( HOSPITALITY RATE
WILL BE 5% FROM 20% )

- 20% -

IF COMPANY IS ENGAGED IN
- 20% - PRODUCTION OF COMPUTERS OR
PHARMACEUTICALS ( THEN RATE WILL
- 20% - BECOME 5% FROM 20%)
- 20% -
- 20% -
- 20% - IF THE COMPANY IS ENGAGED IN
CONSTRUCTION BUSINESS ( CONV &
TOURS TRAVELS RATE WILL BE 5% FROM
20%)

- 20% -

IF THE COMPANY IS ENGAGED IN CARRYING

PEOPLE ( REPAIRS ON MOTOR CARS RATE
WILL BE 5% FROM 20%)
- - -

- 20% - IF THE COMPANY USES AIRCRAFT TO

CARRY PASSENGERS THEN RATE WILL BE
NIL

- 20% -
- 50% -

- 50% -

- 50% -
- 50% -
- 50% -
- 100% -

- 100% -

- -
GED IN
UTERS OR
N RATE WILL
20%)