Profession Tax Updates
No Profession Tax on salaries less than ₹15,000/- (earlier applicable from a salary of ₹5,000/- onwards). There are only two taxable slabs: salaries between ₹15,001/- to ₹20,000/- are taxed at ₹150/- per month, and salaries above ₹20,000/- are taxed at ₹200/- per month.
• Companies not registered under the APVAT Act and having a turnover of less than ₹10.00 Lakhs do not attract any Profession Tax. (Earlier, all companies were taxed at ₹2,500/- per annum.)
• Directors drawing remuneration from the company (other than those nominated by the Government) are only liable to pay a Profession Tax of ₹2,500/- per annum. (Earlier, all directors (other than those nominated by the Government) were liable to pay a Profession Tax of ₹2,500/- per annum.)
No Profession Tax on salaries less than ₹15,000/- (earlier applicable from a salary of ₹5,000/- onwards). There are only two taxable slabs: salaries between ₹15,001/- to ₹20,000/- are taxed at ₹150/- per month, and salaries above ₹20,000/- are taxed at ₹200/- per month.
• Companies not registered under the APVAT Act and having a turnover of less than ₹10.00 Lakhs do not attract any Profession Tax. (Earlier, all companies were taxed at ₹2,500/- per annum.)
• Directors drawing remuneration from the company (other than those nominated by the Government) are only liable to pay a Profession Tax of ₹2,500/- per annum. (Earlier, all directors (other than those nominated by the Government) were liable to pay a Profession Tax of ₹2,500/- per annum.)