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Professional Tax
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, lawyer, doctor etc. are required to pay this professional tax. Different states have different rates and methods of collection. In India, profession tax is imposed every month. However, not all states impose this tax. The states which impose professional tax are Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Tamil Nadu, Gujarat, Assam, Kerala, Meghalaya, Odisha, Tripura, Madhya Pradesh, Jharkhand and Sikkim, Mizoram. Business owners, working individuals, merchants and people carrying out various occupations come under the purview of this tax. Profession tax is levied and collected by the Commercial Taxes Department of State Governments, in some states by particular Municipal Corporations and majority of the Indian states are collecting thi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karnataka
Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnataka'' in 1973. The state corresponds to the Carnatic region. Its capital and largest city is Bengaluru. Karnataka is bordered by the Lakshadweep Sea to the west, Goa to the northwest, Maharashtra to the north, Telangana to the northeast, Andhra Pradesh to the east, Tamil Nadu to the southeast, and Kerala to the southwest. It is the only southern state to have land borders with all of the other four southern Indian sister states. The state covers an area of , or 5.83 percent of the total geographical area of India. It is the sixth-largest Indian state by area. With 61,130,704 inhabitants at the 2011 census, Karnataka is the eighth-largest state by population, comprising 31 districts. Kannada, one of the classical languages of India, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madhya Pradesh
Madhya Pradesh (, ; meaning 'central province') is a state in central India. Its capital is Bhopal, and the largest city is Indore, with Jabalpur, Ujjain, Gwalior, Sagar, and Rewa being the other major cities. Madhya Pradesh is the second largest Indian state by area and the fifth largest state by population with over 72 million residents. It borders the states of Uttar Pradesh to the northeast, Chhattisgarh to the east, Maharashtra to the south, Gujarat to the west, and Rajasthan to the northwest. The area covered by the present-day Madhya Pradesh includes the area of the ancient Avanti Mahajanapada, whose capital Ujjain (also known as Avantika) arose as a major city during the second wave of Indian urbanisation in the sixth century BCE. Subsequently, the region was ruled by the major dynasties of India. The Maratha Empire dominated the majority of the 18th century. After the Anglo-Maratha Wars in the 19th century, the region was divided into several princel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Challan
Challan or Chalan is a common Hindi word (चालान, cālān) that has become an Indian English technical word used officially in many professional, especially financial transactions. It usually means an official form or receipt of acknowledgement or other kind of proof document, piece of paperwork, police citation, etc. According to American Merriam-Webster Dictionary "Chalan" means voucher or invoice, comes from Hindi word of same sound and used in India. Similarly, British-English Dictionary Lexico also defines Challan as noun, "an official form or document, such as a receipt, invoice, or summons," and verb, "issue (someone) with an official notice of a traffic offence" and gives several examples of their applications, which are also paralleled by the Oxford Learner's Dictionary's two separate entries on the same. Wiktionary also gives examples of application the word Challain southeast Asia including its use as a verb with challaning and challaned used similar in cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professional
A professional is a member of a profession or any person who works in a specified professional activity. The term also describes the standards of education and training that prepare members of the profession with the particular knowledge and skills necessary to perform their specific role within that profession. In addition, most professionals are subject to strict codes of conduct, enshrining rigorous ethical and moral obligations. Professional standards of practice and ethics for a particular field are typically agreed upon and maintained through widely recognized professional associations, such as the IEEE. Some definitions of "professional" limit this term to those professions that serve some important aspect of public interest and the general good of society.Sullivan, William M. (2nd ed. 2005). ''Work and Integrity: The Crisis and Promise of Professionalism in America''. Jossey Bass.Gardner, Howard and Shulman, Lee S., The Professions in America Today: Crucial but Fragile. Da ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-employment
Self-employment is the state of working for oneself rather than an employer. Tax authorities will generally view a person as self-employed if the person chooses to be recognised as such or if the person is generating income for which a tax return needs to be filed. In the real world, the critical issue for the tax authorities is not whether a person is engaged in a business activity (called "trading" even when referring to the provision of a service) but whether the activity is profitable and therefore potentially taxable. In other words, the activity of trading is likely to be ignored if no profit is present, so occasional and hobby- or enthusiast-based economic activity is generally ignored by the tax authorities. Self-employed people are usually classified as a sole proprietor (or sole trader), independent contractor, or as a member of a partnership. Self-employed people generally find their own work rather than being provided with work by an employer and instead earn income from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company
A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * List of legal entity types by country, business entities, whose aim is generating profit * financial entities and banks * programs or Educational institution, educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared Incorporation (business), incorporation, or published policy. When a company closes, it may need to be Liquidation, liquidated to avoid further legal obligations. Companies may associate and collectively register themselves ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitution Of India
The Constitution of India (IAST: ) is the supreme law of India. The document lays down the framework that demarcates fundamental political code, structure, procedures, powers, and duties of government institutions and sets out fundamental rights, directive principles, and the duties of citizens. It is the longest written national constitution in the world. It imparts constitutional supremacy (not parliamentary supremacy, since it was created by a constituent assembly rather than Parliament) and was adopted by its people with a declaration in its preamble. Parliament cannot override the constitution. It was adopted by the Constituent Assembly of India on 26 November 1949 and became effective on 26 January 1950. The constitution replaced the Government of India Act 1935 as the country's fundamental governing document, and the Dominion of India became the Republic of India. To ensure constitutional autochthony, its framers repealed prior acts of the British parliament in A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sixtieth Amendment Of The Constitution Of India
The Sixtieth Amendment of the Constitution of India, officially known as The Constitution (Sixtieth Amendment) Act, 1988, amended article 276 of the Constitution relating to taxes on professions, trades, callings and employments. Section 2 of the Act amended Clause (2) of article 276 of the Constitution to increase the ceiling of tax on professions, trades, callings and employments from per person per annum to 2500 per person per annum. The 60th Amendment also omitted the proviso to clause (2) of article 276. Text The full text of clause(2) of Article 276 of the Constitution, after the 60th Amendment, is given below: Proposal and enactment The ''Constitution (Sixtieth Amendment) Bill, 1988'' (Bill No. 100 of 1988) was introduced in the Lok Sabha on 22 August 1988. It was introduced by Ajit Kumar Panja, then Minister of State in the Department of Revenue in the Ministry of Finance. The Bill sought to amend sought to amend article 276 of the Constitution relating to taxes on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purview
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Sikkim
Sikkim (; ) is a state in Northeastern India. It borders the Tibet Autonomous Region of China in the north and northeast, Bhutan in the east, Province No. 1 of Nepal in the west and West Bengal in the south. Sikkim is also close to the Siliguri Corridor, which borders Bangladesh. Sikkim is the least populous and second smallest among the Indian states. Situated in the Eastern Himalaya, Sikkim is notable for its biodiversity, including alpine and subtropical climates, as well as being a host to Kangchenjunga, the highest peak in India and third highest on Earth. Sikkim's capital and largest city is Gangtok. Almost 35% of the state is covered by Khangchendzonga National Park – a UNESCO World Heritage Site. The Kingdom of Sikkim was founded by the Namgyal dynasty in the 17th century. It was ruled by Buddhist priest-kings known as the Chogyal. It became a princely state of British India in 1890. Following Indian independence, Sikkim continued its protectorate status with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jharkhand
Jharkhand (; ; ) is a state in eastern India. The state shares its border with the states of West Bengal to the east, Chhattisgarh to the west, Uttar Pradesh to the northwest, Bihar to the north and Odisha to the south. It has an area of . It is the 15th largest state by area, and the 14th largest by population. Hindi is the official language of the state. The city of Ranchi is its capital and Dumka its sub-capital. The state is known for its waterfalls, hills and holy places; Baidyanath Dham, Parasnath, Dewri and Rajrappa are major religious sites. The state was formed on 15 November 2000, after carving out what was previously the southern half of Bihar. Jharkhand suffers from what is sometimes termed a resource curse: it accounts for more than 40% of the mineral resources of India, but 39.1% of its population is below the poverty line and 19.6% of children under five years of age are malnourished. Jharkhand is primarily rural, with about 24% of its population living in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tripura
Tripura (, Bengali: ) is a state in Northeast India. The third-smallest state in the country, it covers ; and the seventh-least populous state with a population of 36.71 lakh ( 3.67 million). It is bordered by Assam and Mizoram to the east and by Bangladesh to the north, south and west. Tripura is divided into 8 districts and 23 sub-divisions, where Agartala is the capital and the largest city in the state. Tripura has 19 different tribal communities with a majority of the Bengali population. Bengali, English and Kokborok are the state's official languages. The area of modern Tripura — ruled for several centuries by the Manikya Dynasty — was part of the Tripuri Kingdom (also known as Hill Tippera). It became a princely state under the British Raj during its tenure, and acceded to independent India in 1947. It merged with India in 1949 and was designated as a 'Part C State' ( union territory). It became a full-fledged state of India in 1972. Tripura lies in a geographic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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