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Taxation

Service tax revised in Dindigul

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The Hindu 23.07.2009

Service tax revised in Dindigul

Staff Reporter

DINDIGUL: Dindigul Municipality has revised the Service Tax for commercial buildings, industrial units and factories for handling solid wastes, according to a release from the Municipality here on Wednesday.

Already the municipal council had approved the revision of tax structure and passed a resolution on June 25 in this connection. Persons who have any objections may represent in writing to the Municipal Commissioner within 30 days (between July 25 and August 24). Objections submitted after this deadline would not be considered.

According to the revised structure it would be Rs.5,000 for marriage hall, cinemas, hotels, textiles show rooms and two wheeler stand, Rs.4,000 for lodges, Rs.3,000 for private hospital or clinic, factories, Rs.2,000 for grocery wholesale shops, commission shed, breakfast stalls, leather units, footwear shops, note book sales centres, book stalls, bamboo tiles sales depot, finance office and metal vessels shop, Rs.1,500 for rice and grains whole sale, Rs.1,000 for paper marks, private school or office, home appliances, petrol bunks, ice making, textiles shops and pillow and bed sales, Rs.800 for sweet shops, food production tyre vulcanising centre, cracker sales, stockists, petrol bunks (under B category), fertilizer shops, chemicals shops, Rs.750 for chicken, mutton, fish, oil, milk sales shops, pharmacies and fancy stores, Rs.600 for printing press, banana leaf sale and plastic goods, Rs.500 for cool drinks shops and dry fish sales, fruit and vegetable shop, home appliances (small), small grocery shops, tea shops, workshops, paint sales, godowns and groundnut and fried grams sale, Rs.400 for tailoring shop, Rs.300 for mobile phone sales and photostat shop and Rs.200 for telephone booth and goldsmith shop only.

Last Updated on Thursday, 23 July 2009 04:12
 

Corporation hikes profession tax

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Times of India 21.07.2009

Corporation hikes profession tax

CHENNAI: If you are a salaried employee and earning more than Rs 75,000 per annum, be ready to cough up an additional Rs 570 as profession tax. The Chennai Corporation has planned to mop up its revenue by hiking profession tax between 25% and 35%.

The agenda is likely to be placed before the corporation council which meets on Wednesday. "The new tax rates will be introduced with retrospective effect from October 2008," a senior corporation official told TOI. The Tamil Nadu Municipal Act has stipulated tax revision once in five years and Chennai Corporation had hiked the tax last in 2003. There are plans also to introduce new income slabs at Rs 2 lakh and Rs 5 lakh half-yearly.

Any company that transacts business and every person who is engaged actively or otherwise in any profession, trade, calling and employment in the corporation jurisdiction has to pay half-yearly profession tax, as per Section 138 C of the Tamil Nadu Municipal Laws as amended in 1998. In fact, the profession tax is a big source of income for the civic body, next only to property tax. In the current fiscal, Rs 85 crore is estimated under this head.

Profession tax assessment is calculated on the half yearly gross income for the following categories - salaried people (central and state government) individuals, private establishments and companies. In Chennai, 17,825 private establishments and 53,538 individuals are professional tax payees.

As per the new plan, there will be no tax hike for those getting paid below Rs 21,001 half a year. Though other local bodies had increased the rates last year, Chennai Corporation could not take up the tax revision due to pressure from political circles.

"Pay hikes of the staff as per the sixth pay commission recommendations cost the civic exchequer an additional Rs 108 crore. The marginal increase in tax is aimed at partially covering this. It is not going to affect the huge populace, but only a small section," Mayor M Subramanian said.

"Revision of profession tax rates is one of the easiest move for the corporation to augment its resources," says T M Deepak, a chartered accountant.
Last Updated on Tuesday, 21 July 2009 12:43
 

5% levy on stamp duty in TN soon

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Times of India 21.07.2009

5% levy on stamp duty in TN soon

CHENNAI: Property transactions in corporation, municipal and town panchayat limits could get costlier, with the state government proposing a surcharge on stamp duty to generate revenue for local bodies and source funds for urban road infrastructure projects. A bill — The Tamil Nadu Duty on Transfers of Property (in Municipal Areas) Bill, 2009 — was introduced by deputy chief minister M K Stalin in the Assembly on Monday.

According to the bill, the surcharge would not exceed 5% of the stamp duty. For purchase of a Rs 30 lakh apartment, the extra burden for the buyer would work out to Rs 12,000.
 


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