What Is The Slab For Professional Tax

Friday, March 5, 2021

March 05, 2021

What Is The Slab For Professional Tax

By Anonymous

5 of total income remaining after Rs250000. There are some states and union territories that do not charge professional tax too.

How To Know Which Income Tax Slab You Fall In In 2020 Filing Taxes Income Tax Tax Preparation

Under Article 276 of the Indian Constitution the state governments are empowered to decide the rate for the professional tax in the state.

What is the slab for professional tax. In the following questionnaire profession tax applicable in the state of West Bengal has been explained. It is paid by dividing the annual professional tax due into 12 equal instalments which are to. Professional tax is a tax that is levied by the state government and applies to income you earn through employment.

However there are few states and union territories in India that do not charge professional tax too. 2500 per year as per Article 276 of the Constitution. 175 Rs month.

Different states have different cover rates and methods of collection for profession tax. Rs112500 30 of total income remaining after Rs1000000. The Professional tax slabs rate is fixed based on the Income Slab of an Individual.

For late payment of Professional Tax in Karnataka Interest 125 pm would be levied. How it is paid is by dividing the annual professional tax due into 12 equal installments that are paid every month except the one paid in February which is higher than the other months. Union Territories also do not levy Professional Tax.

Professional Tax or P. Each state has a slab that it declares and the professional tax is deducted based on these slabs. 200 Rs 300 Rs in February Note.

Rs200 for 11 months. State Governments are empowered to levy and collect Professional Tax as per the powers conferred upon in Article 2762 of the Constitution of India. 33 rows What is professional tax.

Profession Tax is a direct tax which is levied on persons earning an income by way of either practicing a profession employment calling or trade. Professional Tax PT Rates and Slabs vary from State to State. The maximum amount of PT that may be levied by any State in a Financial Year is Rs 2500-.

Professional Tax is levied by the State Government on salaried individuals or in practice of any profession or carry out some form of business. Senior citizens above the age of 65 and handicapped persons with more than 40 disability and parent of a physically disabled and mentally retarded children are. Rs12500 20 of total income remaining after Rs500000.

As per the Constitution of India the maximum amount of Professional Tax that can be. Professional tax payment shall be monthly or annually. Each state declares a slab and the professional tax is deducted on the basis of these slabs.

Professional Tax Slabs Rates for the Financial Year 2021-22 Professional Tax Enrolment Registration. Slab Rates Applicability in India. Last Date of Every Month.

However the limit has been set to Rs. Tax Applicable for Individual HUF Below 60 Years. 100 rows Professional tax is calculated on the basis of predetermined slabs depending.

All You Need To Know. Rs300 to be deducted for the 12th. The maximum amount that can be charged under this tax regime is Rs.

Professional Tax Slab The rate of professional tax varies from one state to another. Income Up to Rs250000 Nil. You can often find the deduction for the same on your salary slip each month.

Professional tax is levied through predetermined slab rates by the respective states. Therefore each state declares a slab and the tax is deducted on the basis of these slabs. Professional tax is subject to a minimum limit of income and charged as per applicable slab rates of a state.

Women employees whose salary is below 10000 Rs are exempted from professional tax. Professional tax one source of revenue for the government and is used towards bettering the services for professionals in that state. Few of the States do not levy PT.

Professional Tax or Profession Tax is levied by the State Government on the income of the assessee. 7501 Rs 10000 Rs. Different slab rates in Karnataka are for a different class of individuals and the above slab rates are only for salarywage earners.

10001 Rs or Above. Tax is a form of direct tax levied by various State Governments for income from Salary Profession Trade Callings and Business. Up to 7500 Rs.