Hi, Can anyone give me latest Profession Tax slab? Regards, Rohini
From India, Pune
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6From India, Pune
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Hi Rohini,
PT slabs are up to gross Rs 2,500 nil PT, Rs. 2501 to 3500 = PT 60 Rs, Rs. 3501 to 5000 = PT 120 Rs, Rs. 5001 to Rs. 10,000 = PT Rs 175 & 10,001 onwards PT Rs 200.
I hope this will help you.
Regards,
Pooja
From India, Pune
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PT slabs are up to gross Rs 2,500 nil PT, Rs. 2501 to 3500 = PT 60 Rs, Rs. 3501 to 5000 = PT 120 Rs, Rs. 5001 to Rs. 10,000 = PT Rs 175 & 10,001 onwards PT Rs 200.
I hope this will help you.
Regards,
Pooja
From India, Pune
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Income Tax - Income Tax Rates/Slab 2005-06
The Income Tax slabs announced by our honourable Finance Minister, Mr. P. Chidambaram on 28th February '05 in his Union Budget for the Financial Year 2005-06 are as follows:
For the year 2005-06
Taxable income slab (Rs.) Rate (%)
1,00,000
1,35,000 (for women)
1,85,000 (for senior citizens) NIL
1,00,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
2,50,001 upwards 30%
10,00,000 upwards 30%*
*A surcharge of 10% on income tax is levied where taxable income exceeds Rs. 1 million, making it effectively 33% including the surcharge.
Note: -
Surcharge of 10% for those whose taxable income is Rs 10 lakhs or more.
A surcharge of 10% on income tax is levied where taxable income exceeds Rs. 1 million, making it effectively 33% including the surcharge.
Tax exemption on interest in Non-Resident (external) Account and on interest payable by a scheduled bank to Non-Resident Indians (NRIs).
Tax exemption on the interest payable by a scheduled bank to a non-resident or a person who is not ordinarily resident on deposits in foreign currency where the acceptance of such deposits by the bank is approved by the RBI.
Standard deductions, as well as Section 88 and 80L, have been abolished.
Section 88, i.e., Tax rebate to assessees in respect of insurance premium, PF contribution, PPF, NSC, etc., deleted. A new Section 80C introduced which allows a deduction from income of up to Rs 1,00,000 in respect of insurance premium, PF contributions, and other schemes which were hitherto under Section 88.
In respect of educational loans taken for pursuing higher studies, the deduction shall be allowable only in respect of interest payment.
To encourage the pursuit of higher education, the interest outflow would be eligible for deduction for a period of 8 years without any ceiling. Repayment of the principal amount would no longer be eligible for deduction.
Rebate of Rs 5,000 has been wiped off for women, and rebate of Rs 20,000 from tax has been wiped off for senior citizens.
From India, Pune
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The Income Tax slabs announced by our honourable Finance Minister, Mr. P. Chidambaram on 28th February '05 in his Union Budget for the Financial Year 2005-06 are as follows:
For the year 2005-06
Taxable income slab (Rs.) Rate (%)
1,00,000
1,35,000 (for women)
1,85,000 (for senior citizens) NIL
1,00,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
2,50,001 upwards 30%
10,00,000 upwards 30%*
*A surcharge of 10% on income tax is levied where taxable income exceeds Rs. 1 million, making it effectively 33% including the surcharge.
Note: -
Surcharge of 10% for those whose taxable income is Rs 10 lakhs or more.
A surcharge of 10% on income tax is levied where taxable income exceeds Rs. 1 million, making it effectively 33% including the surcharge.
Tax exemption on interest in Non-Resident (external) Account and on interest payable by a scheduled bank to Non-Resident Indians (NRIs).
Tax exemption on the interest payable by a scheduled bank to a non-resident or a person who is not ordinarily resident on deposits in foreign currency where the acceptance of such deposits by the bank is approved by the RBI.
Standard deductions, as well as Section 88 and 80L, have been abolished.
Section 88, i.e., Tax rebate to assessees in respect of insurance premium, PF contribution, PPF, NSC, etc., deleted. A new Section 80C introduced which allows a deduction from income of up to Rs 1,00,000 in respect of insurance premium, PF contributions, and other schemes which were hitherto under Section 88.
In respect of educational loans taken for pursuing higher studies, the deduction shall be allowable only in respect of interest payment.
To encourage the pursuit of higher education, the interest outflow would be eligible for deduction for a period of 8 years without any ceiling. Repayment of the principal amount would no longer be eligible for deduction.
Rebate of Rs 5,000 has been wiped off for women, and rebate of Rs 20,000 from tax has been wiped off for senior citizens.
From India, Pune
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This is in reference to Form III for Professional Tax return-cum-challan. Part I A shows the following under the column "Rate of Tax per month": Rs. 2,500 per annum to be paid in the following manner - a) Rs. 200 per month except in the month of February, b) Rs. 300 in the month of February. Please note that this form indicates the last month of the professional tax year as February.
On the contrary, in Part I B, the column "Salary slabs months" shows the months starting from April and ends with March.
The by-laws propose to levy the new tax on government servants, professionals, workers, and traders that would range from Rs. 20 to Rs. 200 per month depending on their monthly wage. The tax is estimated to increase the Corporation's revenue by Rs. 120 crores. After being passed by the Standing Committee and the MCD House, the by-laws will now be sent for the Delhi Cabinet's approval and later to the Lieutenant-Governor for notification.
The by-laws state that those earning between Rs. 5,001 and Rs. 6,000 will have to pay Rs. 20 per month as professional tax, which will increase by Rs. 10 per thousand until the monthly wage reaches Rs. 20,000. Subsequently, the tax will be Rs. 170 per month for the salary slab Rs. 20,000-Rs. 30,000 per month, Rs. 180 for Rs. 30,000-Rs. 40,000, and Rs. 190 for Rs. 40,000-Rs. 50,000. Those earning Rs. 50,000 and above will be charged Rs. 200 per month.
From India, Pune
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On the contrary, in Part I B, the column "Salary slabs months" shows the months starting from April and ends with March.
The by-laws propose to levy the new tax on government servants, professionals, workers, and traders that would range from Rs. 20 to Rs. 200 per month depending on their monthly wage. The tax is estimated to increase the Corporation's revenue by Rs. 120 crores. After being passed by the Standing Committee and the MCD House, the by-laws will now be sent for the Delhi Cabinet's approval and later to the Lieutenant-Governor for notification.
The by-laws state that those earning between Rs. 5,001 and Rs. 6,000 will have to pay Rs. 20 per month as professional tax, which will increase by Rs. 10 per thousand until the monthly wage reaches Rs. 20,000. Subsequently, the tax will be Rs. 170 per month for the salary slab Rs. 20,000-Rs. 30,000 per month, Rs. 180 for Rs. 30,000-Rs. 40,000, and Rs. 190 for Rs. 40,000-Rs. 50,000. Those earning Rs. 50,000 and above will be charged Rs. 200 per month.
From India, Pune
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Hi Rohini, The message provided as of now by so many are actually more than sufficient. Regards, Jennifer Isaac
From India, Mumbai
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From India, Mumbai
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Hi Rohini,
I am giving the profession tax slab effective from Jan 05. This is the latest one according to my knowledge. If there is any updation, pls let me know.
S.No. Average Half –
Yearly Income (Rs.) Half-Yearly Tax (Rs.)
From To
1 Upto 21,000/- - Nil
2 21,001/- 30,000/- 75/-
3 30,001/- 45,000/- 188/-
4 45,001/- 60,000/- 390/-
5 60,001/- 75,000/- 585/-
6 75,001/- and above 810/-
Mangai
From India, Chennai
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I am giving the profession tax slab effective from Jan 05. This is the latest one according to my knowledge. If there is any updation, pls let me know.
S.No. Average Half –
Yearly Income (Rs.) Half-Yearly Tax (Rs.)
From To
1 Upto 21,000/- - Nil
2 21,001/- 30,000/- 75/-
3 30,001/- 45,000/- 188/-
4 45,001/- 60,000/- 390/-
5 60,001/- 75,000/- 585/-
6 75,001/- and above 810/-
Mangai
From India, Chennai
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Income Tax Slab Rates.doc
Income Tax Slab rates 2012-2013.xls