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Corporate Tax Advisory

Asked by : Prakash Khairnar, Sr. Associate, DSP Merrill Lynch
Industry : Asset Management
Functional Area : India
Keywords : Tax Professional Tax
Activity: Question posted: 10 29 2008 18:15:37 +0000, 13 answers, 46625 views, last activity 04 05 2013 08:18:57 +0000
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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?

 Top Answer :
Rating : +1 

it is tax on profession paid to Tamil nadu Govt. 


Sl. No.

Six months income (Rs.)

Old Tax (Rs)

New Tax (Rs)


upto 21,000




21,001 – 30,000




30,001 – 45,000




45,001 – 60,000




60,001 – 75,000




75,001 and above



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by   Govindaraj Mohanraj, auditor, S.PARAMESWARAN & CO.,  | 11 27 2010 04:45:28 +0000
  Answered by     CA Swati Aggarwal, Chartered Accountants, Neeraj bhagat & co.  | 04 05 2013 08:19:02 +0000
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Is the tax need to be deducted every month and paid half-yearly (in Tamil Nadu)?

Can anyone elaborate..?

Does it mean that Rs. 100*6= 600 need to be paid in Oct and April every year.?

  Answered by     DIPIKA UPADHYAY,  | 11 22 2012 14:19:14 +0000
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if i am working on contractual basis, then also its compulsory or not???

  Answered by     Manoj Pandey, Lecturer, CENTRAL INDIA COLLEGE OF BUSINESS MANAGMENT & STUDIES  | 06 13 2011 07:12:01 +0000
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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.





  Answered by     sharayu vijay shrotri, Hr, nutel innovation pvt. ltd.  | 02 19 2011 15:22:01 +0000
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I too have the same question. is professional tax and income r same ??? or both r different.

  Answered by     Prashant Kumar, Payroll processing, Planman HR Pvt Ltd  | 02 19 2011 09:52:48 +0000
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Deara Sir,


I have more confusion to understand about "Ptax" Professional tax,what is process about ptax,Employee and Employeer Both ,

  Answered by     lalit shriram raut, Freelancer, Freelancer  | 01 04 2011 18:46:28 +0000
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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.

  Answered by     Suryakant Soni, B.Com student, Calcutta Univercity  | 01 04 2011 11:35:45 +0000
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on what amount professional tax should be calculated Basic salary or gross salary

  Answered by     Deepak Kumar Tula, Training, Transport Corporation of India Ltd  | 12 26 2010 14:32:14 +0000
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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.



  Answered by     Ankit Shah, Sr. Manager - Risk Advisory  | 11 27 2010 06:14:36 +0000
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It is a tax collected by State Govt...for practising your profession. It gets deducted from your salary!!!!

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