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Tag: Development Tax In Punjab

Pb Govt to Generate Rs 200 Cr From Development Tax

[Chd,Pb] Pb Govt to Generate Rs 200 Cr From Development Tax
Capt Amarinder Singh led Punjab government is likely to notify next week the Punjab State Development Tax , which is expected to generate a revenue of Rs 150-200 crore,
The government had announced to impose Rs 200 per month Punjab State Development Tax in the budget session last month.
As part of the additional resource mobilization measures, the state development tax was proposed to be imposed on the income tax payees, who are engaged in professions, trades, callings and employments, earning Rs 30,000 per month and above.
Punjab government had cited states like Maharashtra, Gujarat, Karnataka, Andhra Pradesh and Tamil Nadu which have been collecting this tax for a long time.
Asked when the surcharge on petroleum products was going to be imposed, Badal said it has not been decided yet.
Punjab had also proposed to levy a social security surcharge not exceeding Rs two per litre on the sale of petrol and/or diesel which are subject to Punjab VAT levied under Punjab VAT Act, 2005.