pl tell me when should an individual or company liable to pay profession tax.
thnx in adv.
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pl help
Replies (4)
Professional tax is collected by the state government. Most of the state collects this. You may work in any organisation, but for practicing your proffession you are paying tax to the state
regards,
ratan
Profession tax applicable to Tamil Nadu
Levy of Profession tax by municipal council
Every company which transacts business and every person, who is engaged actively or otherwise in any profession, trade, calling or employment with in the Town Panchayat on the first day of the half-year for which return is filed, shall pay half-yearly tax at the rates specified in the Table below in such manner as may be prescribed:
THE TABLE
|
Sl. No. |
Six months income (Rs.) |
New Tax (Rs) |
|
1 |
21,001 – 30,000 |
75 |
|
2 |
30,001 – 45,000 |
188 |
|
3 |
45,001 – 60,000 |
390 |
|
4 |
60,001 – 75,000 |
585 |
|
5 |
75,001 and above |
810 |
Profession Tax Collectable from the salary of August (Ist Quarter ) and January (IInd Quarter)
what is the total business of the bank?
Liability of Professtional Tax depends on depends on the Income of the person. It is a state Act and you need look to the concered state act for rate of tax. Act will give the details of the individuals, organisations etc who are liable to pay tax and different slab rate applicable to them.
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