What is Profession Tax?
Answers were Sorted based on User's Feedback
Here many people misunderstood professional tax is only for
for professionals, even a self employed person is liable to
pay professional tax& even
Companies, Firms and other entities which are registered as
dealer under commercial tax dept has to pay professional
tax along with their Directors , Partners or proprietors
| Is This Answer Correct ? | 59 Yes | 3 No |
Answer / guest
It is an imposition of tax as enforceable with effect from
1.11.2000 on the persons of different professions, trade,
callings and employment as per the scheduled rate of tax
depending upon the class of assesses.
| Is This Answer Correct ? | 45 Yes | 22 No |
Answer / thomas mathew
Profession tax is tax levied by state governments. This is
a tax payable on professions, trades, callings and
employmnets. Under this, every one (ie. employer,
employee and self employed) will have to pay tax. For the
employees it is the liability of the employer to deduct tax
according to salary salb fixed by state governments (which
varies from state to state) and pay to government. Self
employed has to pay profession tax directly to govt.
Companies (employer) is also to pay tax. (In West Bengal
the tax rate for comapny is Rs.2500/- per annum.)
In short every one who earns by way of business,
employments, consultation by doctors, chartered accontatns,
enginners etc. has to pay profession tax.
| Is This Answer Correct ? | 17 Yes | 5 No |
Answer / kavitha
profession tax is the tax leived on a professional person.
It is given as deduction under sec 16 for non-government
emplyoees.
| Is This Answer Correct ? | 38 Yes | 28 No |
Answer / lakshmana
profession tax is the tax leived on a professional person.
It is given as deduction under sec 16 for non-government
emplyoees.
| Is This Answer Correct ? | 18 Yes | 13 No |
Answer / h.r. sreepada bhagi
Answer by Mohd. Abdul Quader is correct. It's needs to be
paid to the Commercial Taxes department of each state as per
the law in that state in respect of business entities,
professionals, employees, etc as per the rates & slabs in
the relevant Act of the concerned state.
Section of the Act. may change from state to state. My
answer is only brief note and not exhaustive. It's always
necessary to see the concerned Act for compliance.
| Is This Answer Correct ? | 4 Yes | 5 No |
Answer / ca
In Tamil Nadu
Income Tax to be imposed
Upto ` 21000 Nil
From ` 21001 to ` 30000 ` 75
From ` 30001 to ` 45000 ` 188
From ` 45001 to ` 60000 ` 390
From ` 60001 to ` 75000 ` 585
More than ` 75001 ` 810
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / abuzer s
Mr. Thomos Mathew given clearly.. but I wannt Karnataka
profession tax amount.. and I nedd how it will calculated,
from where it will calculated either from CTC or Basic
salary..???
| Is This Answer Correct ? | 0 Yes | 2 No |
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0 Answers Construction, Ernst Young,