Question 1

What is the Professional Tax rate in Maharashtra (Pune)?

Accepted Answer

Maharashtra Professional Tax is ₹2,500 per year for employees earning above ₹10,000/month. It is deductible under Section 16(iii). Note: Maharashtra PT is ₹2,500 (slightly higher than Karnataka's ₹2,400), and your Form 16 should reflect this.

Question 2

I work in the auto sector in Pune with a company car. How is it taxed?

Accepted Answer

Company car perquisite is taxed based on engine capacity and whether a driver is provided. For cars up to 1600cc: ₹1,800/month (without driver) or ₹2,400/month (with driver). For larger cars: ₹2,400/month or ₹3,000/month. This is added to your salary income.

Question 3

I have a flat in Pune on home loan. What deductions can I claim?

Accepted Answer

For a self-occupied property: home loan interest up to ₹2L under Section 24(b), and principal repayment up to ₹1.5L under Section 80C. For a let-out property: full interest deduction (no cap) under Section 24(b), but the rental income is taxable.

Question 4

I'm a freelance software developer in Pune. Which ITR form do I need?

Accepted Answer

Freelance software development income is 'Income from Business/Profession'. If your gross receipts are below ₹75L, you can use Section 44ADA (presumptive taxation at 50% of receipts) and file ITR-4. Above ₹75L, ITR-3 with books of accounts is required.

ITR Filing in Pune — Starting ₹399

Frequently Asked Questions

Ready to file your ITR in Pune?

ITR Filing in Pune — Starting ₹399

Frequently Asked Questions

Ready to file your ITR in Pune?