Professional Tax

Others 3041 views 5 replies

habeeb

40 Points Joined March 2008

his everybody plz can anybody help me

Wat is Professional Tax ? y it is deducted and rates at which it is calculated.

plz do reponse Ihave posed 3 to 4 question till now nobody has responded

plz do reponse atleast for this.

Article Student

Replies (5)

Shekar

CA & LCS

1109 Points Joined February 2008

Hi Habeeb...

Professional Tax is a tax on employment...All salary earning people should pay Professional tax...So Employer should deduct PT before paying Salary.

The slab rate applicable if the Gross salary is

3000 to 4999 Rs.30

5000 to 7999 Rs.60

8000 to 9999 Rs.100

10000 to 14999 Rs.150

15000 & above Rs.200

Shekar

CA & LCS

1109 Points Joined February 2008

There is some problem with the site slab rate i typed are disapearing

Go through this link for slab rate...

https://www.citehr.com/60152-pt.html

sunil

333 Points Joined November 2007

My Dear Habib,

The profession Tax(not professional tax)is being levied on professions, trade callings and employment by an state. In Madhya Pradesh on almost all types of earner have to pay the tax, such as employee,legal or medical practitioner,architects, managment consultants, CA, agents, contractors,Members of stock exchange.Directors of the cos,Liquor licenees,Employers of theaters,Service station, petrol pumps,Hotels,Registered Co.,Chit fund institutions,Banks, Co-operatives,Video and beauty parlours, money lenders,Partnership firms,Factories,Dealer liable pay VAT,Holders of transport permits. etc. etc.. Rate of tax has been given in prescribe schedule of the Act.

Please visit www.mptax.net for Madhya pradesh profession tax Act and rules.

You may call me at 9425176510.

rahulbansal

Accountant

51 Points Joined June 2008

Profession Any consultancy / Retainer Ship etc.

Tds 11.33% (10+10%+3%) 194J. 2 condition : 1 . If Bill submit = 20000/- 2. yearly 100000/- for individual. if any condition is complete than deducte the tds. ok

PH. 41000530 ext. 344

shareinfoline

Business

22 Points Joined June 2008

shareinfoline technical analysts keeps there eyes on this bullish Indian stock market to provide best intraday and long term share market calls daily. Our trading tips covers NSE and BSE .
Check gainers,losers ,news, IPO ,Free tips,trading tricks and all new mutual funds .

90% accurate stock recommendations in any market condition with exact entry price, exit price & stop loss every single day on your email & mobile thru SMS.
For more info please visit: www.shareinfoline.com