Is ex servicemen exempted from income tax?

Any income of a Corporation established for Ex-Servicemen [Section 10(26BBB)] From assessment year 2004-05, any income of a statutory corporation established by Central, State or Provincial Act for the welfare and economic upliftment of ex-servicemen (being citizen of India) is exempt from tax under section 10(26BBB).

Is professional tax applicable for pensioners?

Profession Tax(16iii) is not allowed to pensioners.

Who is not eligible for professional tax?

For example, parents or guardian of any person who is suffering from mental retardation, blind persons are exempted among others from levy of Karnataka Professional tax.

Is professional tax mandatory in Kerala?

As per the Kerala Municipality Amendment Act, 2015, it is mandatory for all individuals who are drawing a half-yearly salary of more than Rs. 12,000 to pay Kerala professional tax.

Do ex servicemen need to pay tax?

The notification says the rent income in residential areas is also exempted from the property tax. In commercial area, the tax on rent income has been reduced to 7.5%, which earlier was 10%.

Is Defence salary taxable?

Periodic pension is taxable for all employees. Hence, pension received from the defence sector is taxable as salary. For financial year (FY) 2018-19, where the taxpayer receives salary from more than one employer and does not have income from business profession, he is required to file the tax return using ITR-2.

What is the rule for professional tax?

A maximum of Rs. 2,500 can be levied as professional tax on any person per financial year. According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary income.

Who all should pay professional tax?

This was increased to Rs. 2,500 in 1988, and since then this amount has been kept unchanged. So, as a salaried individual or a professional drawing regular income you, your employer or the respective party from where your income comes can pay professional tax.

How can I calculate my professional tax?

For example, if you are a working professional in Gujarat earning Rs. 20,000 a month, your monthly professional tax will amount to Rs. 200 and your annual professional tax will be Rs. 2400.

Are there any exemptions for ex-servicemen in Kerala?

The Kerala Government have published revised guidelines for giving property tax exemption to the Ex-Servicemen vide GO (MS) 242/2013/LSGDdated 2.7

Is there an exemption for ex-serviceman from paying profession tax?

Note:- It may be noted that there is no exemption for ex-serviceman from paying profession tax. why below 2000 sq ft.Ex servicemen after putting up of a long service to the nation won’t have the liberty to build a house of 2000 sq ft and above and get the exemption of tax. is it justified.

Who is exempt from property tax in Andhra Pradesh?

As per the orders of the erstwhile Andhra Pradesh State government, all serving army personnel and ex-servicemen/widows are exempted from paying property tax for any one house owned by them. Mr. Sebastian applied for property tax exemption in October 2006 in accordance to the Government Order.

Are there any exemptions for ex servicemen in Sainik?

The case of exemption of building tax to ex servicemen is still under consideration by government agencies and a regular followup is required by sainik welfare department concerned. No way you have to pay the dues as per the existing order.