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Professional Tax

habeeb (CA ) (40 Points)

20 June 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.

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5 Replies

Shekar (CA & LCS ) (1109 Points)
Replied 20 June 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

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Shekar (CA & LCS ) (1109 Points)
Replied 20 June 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)
Replied 20 June 2008

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)
Replied 21 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

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Replied 21 June 2008

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