Know About Profession / Property Tax
PROFESSION TAX
KNOW ABOUT PROFESSION TAX
| CODAL PROVISION | 1. Please see Chapter VIII (Taxation) and specifically see Sections 144 TO 151 of the Puducherry Municipalities Act, 1973. | ||||||||||||||||||||||||||||||||
| 2. The Pondicherry Municipality (Profession Tax) Rules, 1976 | |||||||||||||||||||||||||||||||||
| BASIS OF ASSESSMENT OF TAX | Income from (i) Profession, Art or Calling or Business or appointment(Public or Private) or (ii) Investments | ||||||||||||||||||||||||||||||||
| PERSONS LIABLE TO PAY TAX |
1. Every company which transacts business for not less than 60 days in the aggregate in any half-year 2. Every person in any half-year exercise a profession, art or calling or transacts business or holds any appointment, public or private for not less than 60 days in the aggregate and is in respect of any income from investments. 3. Any adult member of the firm, association or joint Hindu family. |
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| TAX TARIFF |
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| Filling of return of income of the employees by the Employer. | |||||||||||||||||||||||||||||||||
| Responsibility of the Employer | To deduct tax from salary or wages or other sum of the employee | ||||||||||||||||||||||||||||||||
| Every employer/company shall furnish a statement of salary paid to the employees to the Commissioner after completion of every half year | |||||||||||||||||||||||||||||||||
| Every employer shall on receipt of a requisition from the Commissioner, deduct from the salary or wages of any person employed by the employer and pay to the Municipalities. | |||||||||||||||||||||||||||||||||
| Assessment of Income in the case of Company or person in transacting business | The income will be assessed on the basis of turnover of business. | ||||||||||||||||||||||||||||||||
| Filling statement of turnover of business | Every company or person transacting any business shall furnish a statement of turnover of business after the completion of every half-year. | ||||||||||||||||||||||||||||||||
PROPERTY TAX
KNOW ABOUT LEVY OF PROPERTY TAX
| CODAL PROVISION | 1. Please see Chapter VIII (Taxation) and more specifically see Sections 118 (1)(a)(i) and 121 of the Puducherry Municipalities Act, 1973. |
| 2. The Pondicherry Municipality (Assessment of Annual Rental value of Buildings) Rules, 2000 | |
| BASIS OF ASSESSMENT OF TAX | Annual Rental value of the building |
| ALLOWANCE FOR REPAIRS | 15% (Fifteen percent) (To be deducted from the Gross Annual Rental Value) |
| RATE OF TAX | 9% (Nine Percent) on the Net Annual Rental value of the building |
| CRITERIA FOR ESTIMATION ANNUAL RENTAL VALUE | (i) Location of the building; (ii) Type of Construction; (iii) Usage of building i.e., Own use – Residence, Rented-Residence, Commercial |
MATRX SHOWING THE UNIT RATES OF GROSS ANNUAL RENTAL VALUE OF BUILDING
CLASSIFICATION OF ROADS / STREETS FOR THE PURPOSE OF LOCATION OF BUILDING
METHOD OF ASSESSMENT OF PROPERTY
Every building shall be assessed together which its site and other adjacent premises occupied as an appurtenance thereto.
SELF ASSESSMENT OF TAX
MODEL CALCULATION OF TAX
MODEL: (1)
| Location of the building | MAIN ROAD / STREET |
| Type of Construction | Reinforced Cement Concrete (RCC) |
| Usage | Residential |
| Unit Rate of Gross Annual Rental Value (As on Matrix) | Rs.............. per Sq.Feet. |
| Total Area of the building | Sq. Feet |
| Gross Annual Rental value of the building | ............................... Sq.ft. X Rs. |
| Allowance for repairs (15%) | Rs.(Gross Annual Rental Value) X 15% / 100 |
| Net Annual Rental Value | Gross Annual Rental Value (Rs.) (-) Deduct Allowance for Repairs (Rs.) |
| Tax per year | Net Annual Rental Value X Rate of Tax |
| NARV X 9% = Rs. |
MODEL: (2)
| Location of the building | MAIN ROAD / STREET |
| Type of Construction | Reinforced Cement Concrete (RCC) |
| Usage | Commercial / Industrial |
| Unit Rate of Gross Annual Rental Value (As on Matrix) |
Rs.............. per Sq.Feet. |
| Total Area of the building | Sq. Feet |
| Gross Annual Rental value of the building | ............................... Sq.ft. X Rs. |
| Allowance for repairs (15%) | Rs.(Gross Annual Rental Value) X 15% / 100 |
| Net Annual Rental Value | Gross Annual Rental Value (Rs.) (-) Deduct Allowance for Repairs (Rs.) |
| Tax per year | (Net Annual Rental Value) X (Rate of Tax) |
| NARV X 9% = Rs. |
MODEL: (3)
| Location of the building | SECONDARY ROAD / STREET |
| Type of Construction | Reinforced Cement Concrete (RCC) |
| Usage | Residential |
| Unit Rate of Gross Annual Rental Value (As on Matrix) |
Rs.............. per Sq.Feet. |
| Total Area of the building | Sq. Feet |
| Gross Annual Rental value of the building | ............................... Sq.ft. X Rs. |
| Allowance for repairs (15%) | Rs.(Gross Annual Rental Value) X 15% / 100 |
| Net Annual Rental Value | Gross Annual Rental Value (Rs.) (-) Deduct Allowance for Repairs (Rs.) |
| Tax per year | (Net Annual Rental Value) X (Rate of Tax) |
| NARV X 9% = Rs. |