Government of Punjab notifies the Rate of Tax levied under Punjab State Development Tax Act, 2018 and the effective date to file Returns

Jan 18, 2019 | by Avantis RegTech Legal Research Team

The Punjab Department of Excise and Taxation, on January 17, 2019, has informed all the concerned stakeholders that the tax under the Punjab State Development Tax Act, 2018 shall be levied at the rate of Rs. 200 per month.

This tax will be levied on every person who is income tax payee, that is, the tax, for any particular financial year, shall be payable under this Act only by those persons whose taxable income for the same financial year, before allowing deduction on account of tax levied under this Acts exceeds the maximum amount which is not chargeable to Income Tax by the amount of tax payable by him under this Act for that year.

The Department has also informed that the process of filing of returns will under Punjab State Development Tax Act, 2018 will commence from April 01, 2018 as the online portal for the same is under process.



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