Taxing times: Punjab govt approves Rs 200 per month deduction proposal as PSD tax from state pensioners’, retiree’s
Kanwar Inder Singh/ royalpatiala.in News/ June 22,2023
Punjab government has approved the proposal of deduction of Rs 200 per month as Punjab State Development Tax from the pensioners’, retiree’s of Punjab govt .
As per available information, the finance department has approved the proposal mooted by the state excise and taxation department who is the nodal agency for collecting the tax amount.
An officer on the condition of anonymity said “now, the excise and taxation department or the finance department will issue the notification in coming days and the same will be implemented in pan Punjab. The govt will instruct the banks to deduct the amount from the pensioners account.”
Capt Amarinder Singh led congress government has levied this tax on the residents of Punjab in 2018. As per Punjab govt any person engaged in trade,calling, profession or employment, who is a income tax payee, means whose taxable income under Income Tax Act, 1961 is more than ‘0’ shall be liable to pay tax under Punjab State Development Tax Act, 2018.
For Notification of PSD tax 2018, click the link Punjab_State_Development_Tax_2018
