Corporate Tax Advisory
|
Activity:
Question posted: 10 29 2008 18:15:37 +0000,
11 answers, 27487 views, last activity
06 13 2011 07:12:01 +0000
|
|
|
|
Do let me know do also what are the components I have to take into
consideration in the salary break-up for the professional tax
calculation?
Is there any formula to calculate the professional tax?
The professional tax rates differs from State to State. It is a State tax. There is no web site for it which covers all the states rates.
Karnataka:
Employees whose monthly salaries or Number of Rate of Tax Cess Amount of Tax
wages or both are employees per month Deducted
A. Rs.3,000/- to Rs.4,999/- Rs. 30.00
B. Rs.5,000/- to Rs.7,999/- Rs. 60.00
C. Rs.8,000/- to Rs.9,999/- Rs.100.00
D. Rs.10,000/- to Rs.14,999/- Rs.150.00
H. Rs.15,000/- & Above Rs.200.00
Professional Tax in Tamil nadu. (Yearly two times= Tax once in 6 months)
6 months income (Rs.)---- Tax (Rs)
21,001 – 30,000 ----------------- 75
30,001 – 45,000 ----------------- 188
45,001 – 60,000 ----------------- 390
60,001 – 75,000 ----------------- 585
75,001 and above ----------------810
Based on budget tax changes & income tax changes also it will differ from state to state
Professional tax are imposed on the Incomes of professional peoples like C.A., Teacher/Lecturer, Lawyer, Doctor, Businessmen etc.
Regarding Income tax, so it is imposed on the income of individuals or businesses.
Regards,
Manoj
CICBMS.
I too have the same question. is professional tax and income r same ??? or both r different.
Deara Sir,
I have more confusion to understand about "Ptax" Professional tax,what is process about ptax,Employee and Employeer Both ,
Hi It is correct that it is a tax charged by the state government. It is nothing but a source of revenue to the government. As you know everyone earning the income more than the exempted income as per income tax pays the tax same way every government has defined the slabs their own. It is like that tax on your income. It is income based hence to know the amount of tax you have to refer the slabs defined by the government. To know the rates toy can refer the Sales tax sites of respective State Government. The logic is that you are doing a certain kind of vocation hence it the tax on the facility provided by the government. It is payable by every person even if you are a salaried person or in business. For the person that means person it is based on the income earned by him in the last year.
on what amount professional tax should be calculated Basic salary or gross salary
It is a tax charged by the state government and it varies from state to state. The employee has to pay the professional tax to the state government each month and need to submit the amount in the Local Municipality office by the employer.
Deepak-TCI
It is a tax collected by State Govt...for practising your profession. It gets deducted from your salary!!!!
it is tax on profession paid to Tamil nadu Govt.
Table
| Sl. No. | Six months income (Rs.) | Old Tax (Rs) | New Tax (Rs) |
| 1 | upto 21,000 | - | - |
| 2 | 21,001 – 30,000 | 75 | 100 |
| 3 | 30,001 – 45,000 | 188 | 235 |
| 4 | 45,001 – 60,000 | 390 | 510 |
| 5 | 60,001 – 75,000 | 585 | 760 |
| 6 | 75,001 and above | 810 | 1095 |
Professional Tax is one kind of tax that is depend on your profession. As example if you are a employers you and your company have to pay tax. If you are a employees you also pay tax on your profession.This is for state government revenue.
That slab depend on state govt that means as per state G.O.
In Andhrapradesh slab is like that upto income rs. 4999/- prof tax is nil.
upto 5000- 6000 is 60
upto 6000- 10000 is 80
upto 10000- 15000 is 100
upto 15000- 20000 is 150
above20000 is 200
|
|
Gujarat government has sharply reduced tax on aeroplane fuel for flights operating within the... |
|
|
2026 referals
13 arguments,
277 views
|
|
|
Because Indian Professionals are superior and dedicated vs There is lack of professionals in... |
|
|
417 referals
38 arguments,
685 views
|
|
|
Yes vs No |
|
|
212 referals
10 arguments,
221 views
|
|
|
|
|
|
|
|
|
what is the role of r d ? |
|
|
1 referals
0 answers,
0 views
|
|
|
Sorry for disturbing you. I request to go through below write-up/profile as a short... |
|
|
1 referals
0 answers,
0 views
|
|
|
do you know any open source softwares? |
|
|
0 referals
0 answers,
0 views
|
|
|
|
|
Well, though Russia is more trustworthy to us than USA, but still we cannot deny the friendship of USA. We shouldn't forget, USA is fighting against all the terrorist groups which are a danger for India. Just because it is supplying ammunitions to... |
Paying advance tax doesn't mean economic recovery in India will be stable.Tax was being paid even before the recession period. Our corporates were having good hold in the market at that time also. Still were we able to protect India from being... |
MBA teaches how to manage an organsation. This may be a requirement in every sector. Whereas Charter accountants are specifically decined for accounting jobs. Giving a recognition to CAs will let them an identification in which field they are working... |