Professional Tax Rates in India (01/07/2022)
Professional Tax is a state-level tax levied by the respective state governments in India. As of 01/07/2022, the following are the updated Professional Tax rates for some states:
1. Andhra Pradesh:
- Monthly Salary up to Rs. 15,000: Nil
- Monthly Salary above Rs. 15,000: Rs. 150 per month
2. Telangana:
- Monthly Salary up to Rs. 15,000: Nil
- Monthly Salary above Rs. 15,000: Rs. 200 per month
3. Karnataka:
- Monthly Salary up to Rs. 15,000: Nil
- Monthly Salary above Rs. 15,000: Rs. 200 per month
4. Tamil Nadu:
- Monthly Salary up to Rs. 3,500: Nil
- Monthly Salary above Rs. 3,500: Rs. 167 per month
5. Maharashtra:
- Monthly Salary up to Rs. 7,500: Nil
- Monthly Salary above Rs. 7,500: Rs. 200 per month
For the calculation process in Excel, you can follow these steps:
1. Create a new Excel sheet with columns for Employee Name, Monthly Salary, and Professional Tax.
2. Input the relevant data for each employee, including their monthly salary.
3. Use the respective state's Professional Tax rates mentioned above to calculate the Professional Tax amount for each employee.
4. You can use a formula in Excel to calculate the Professional Tax based on the salary slab and rates applicable in the specific state.
Please note that Professional Tax rates may vary based on the state and the salary slab. It's essential to stay updated with the latest rates as per the respective state government notifications.
For detailed information on Professional Tax regulations in each state, you can refer to the official state government websites or the respective state's Professional Tax Act.
Remember to comply with the state-specific regulations and ensure accurate deductions for Professional Tax as per the applicable rates.
Stay Compliant and Informed!