sai krishna (Student) (186 Points)
05 January 2009hi friends
what is the defination of income in professional tax.
what are the slab rates regarding company in Tamil nadu.
if a company suffers loss whether the company has to pay PT are not .
regarding to the directors of the company is there any seperate slab rates for them.
please clarify me the above queries.
giribabu
(Finance Controller)
(35 Points)
Replied 07 January 2009
As per the provisons of the Income Tax Act, at the time of payment of salary to the employee, Employer is required to deduct PT from Salary & the same is remmitance with the department with priscribed time limit. Evenn thouth the company is under loss, it is liable to pay PT, which is deducted from employees. Follow the below slab for tamilnadu PT
Tamil Nadu's Tax Slabs:
The professional tax slab structure followed in Tamil Nadu on a half yearly basis is formulated as follows:
| Income | Monthly Professional Tax |
|---|---|
| Less than Rs.21000 | Nil |
| Between Rs.21001-Rs.30000 | Rs.75 |
| Between Rs.30001-Rs.45000 | Rs.188 |
| Between Rs.45001- Rs.60000 | Rs.390 |
| Between Rs.60001- Rs.75000 | Rs.585 |
| Beyond Rs.75001 | Rs.810 |
Thanks,
Giri
CAclubindia
