DA order Madhya Pradesh Government Employees 8/11/2024

4% DA order of mp government employees.

applicable to January 2024 and payment salary of November paid December 24 

Arrears 4 installment 
December 24 
January 25 
February 25 and
March 25

Income Tax Rate of Fy 2017-18 and AY 2018-19


Indian Income Tax Rates applicable for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) in India is as under :

Assessment Year 2018-19, to Financial Year 2017-18
For Individuals below 60 years age (including Woman Assessees) :

Income
Tax Rates
Upto 2,50,000
Nil
2,50,000 to 5,00,000
5% of the amount exceeding 2,50,000
5,00,000 to 10,00,000
Rs. 12,500 + 20% of the amount exceeding 5,00,000
10,00,000 & above
Rs.1,12,500 + 30% of the amount exceeding 10,00,000
For Individuals aged 60 years and above but below 80 years (Senior Citizen) :

Income
Tax Rates
Upto 300,000
Nil
3,00,000 to 5,00,000
5% of the amount exceeding 300,000
5,00,000 to 10,00,000
Rs.10,000 + 20% of the amount exceeding 5,00,000
10,00,000 & above
Rs.1,10,000 + 30% of the amount exceeding 10,00,000
For Individuals aged 80 years and above (Very Senior Citizen):
Income
Tax Rate
Upto 5,00,000
Nil
5,00,000 to 10,00,000
20% of the amount exceeding 5,00,000
1,000,000 & above
Rs.1,00,000 + 30% of the amount exceeding 10,00,000
Surcharge on Income Tax:
  • 10% of Income Tax, where total income exceeds Rs.50 lakhs upto Rs.1 crore.
  • 15% of the Income Tax, where total taxable income exceeds Rs.1 crore.
  • Surcharge amount of 10% or 15% as applicable, shall not exceed the amount of income that exceeds Rs. 50 lakhs or Rs. 1 crore, as applicable.
Education Cess: 3% of Income Tax plus Surcharge

Tax Credit: Section 87A provides for rebate from tax liability. Tax credit of Rs. 5,000 is allowed for person whose income doesn’t exceed Rs. 5,00,000. If the total tax payable is less than Rs. 5000, rebate is restricted to total tax payable.

Key changes in the tax rates:
  • Change in Income tax rate from 10% to 5% for income between Rs. 2,50,000 and Rs. 5,00,000 (in the case of Individual below 60 years) and for income between Rs. 3,00,000 and Rs. 5,00,000 (in the case of Individual between 60 years and 80 years).
  • Introduction of new slab for Income tax surcharge @ 10% for Income between Rs 50 lakhs and Rs. 1 crore, in addition to the existing surcharge @ 15% for Income exceeding Rs. 1 crore.

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Income tax calculator FY 2013-14

New Employee Registration Form

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Form 16 income tax and TDS

FORM NO. 16
Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source

Professional Tax in MP Madhya Pradesh 2018-19


New Slab of Professional Tax in MP (Madhya Pradesh)
     Pay                          Tax   

 225000                                  Nil

 225000 to 300000          1500 (125 per month)

 300000 to 400000           2000 (166 per mont and 174 last month)

 400000 to more               2500 (208 per month and 212 last month)

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