Madhya Pradesh falls under the category of states that charge professional tax. The professional tax amount to be paid depends on the professional tax slab rate of the particular state. The tax slab rate is different for each year.
How much is professional tax in MP?
| Act The Madhya Pradesh Vritti Kar Adhiniyam, 1995 | Upto 225000 ₹ 0.00 Nil | Between 225001 To 300000 ₹ 1500.00 INR 125 Per Month | Between 300001 To 400000 ₹ 2000.00 INR 166 Per Month For 11 Months And INR 174 For 12th Month | Above 400001 ₹ 2500.00 INR 208 Per Month For 11 Months And INR 212 For 12th Month |
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How can I register for PT in MP?
Please note that for Professional Tax Registration, following process is followed: (1) Download Professional Tax Registration Template from MPCTD Portal from Section E-Services -> New Registration -> PT Employer / Person Registration . (2) Update required details in downloaded PT Registration Form.
How many states have professional tax in India?
Some of the states which currently impose a professional tax in India are Maharashtra, Gujarat, Andhra Pradesh, Kerala, Tamil Nadu, Karnataka, Bihar, Assam, Madhya Pradesh, Telangana, Meghalaya, Odisha, West Bengal, Sikkim and Tripura .
In which states professional tax is not applicable?
While states like Karnataka and Maharashtra have profession tax, there is no such tax applicable in Delhi and Haryana .
What is the rule for professional tax?
Professional tax is a tax on income charged by the State Government. The maximum limit of professional tax which can be levied on a person in a financial year is ₹ 2,500 . Not all States and Union Territories charge P Tax, like; Haryana, Delhi, Uttar Pradesh, Rajasthan, etc.
Who is liable for professional tax?
Individuals earning Rs. 10,000 or more per month are liable to pay the professional tax in Karnataka under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976. If you are a salaried individual having a salary more than Rs. 10,000 but less than Rs.
How is professional tax calculated?
| State Gross monthly salary (Rs.) Tax per month (Rs.) | Maharashtra 10,000 and above 200 (300 for February) | Odisha 20,000 and above 200 |
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Can professional tax be claimed back?
Once you have a professional tax registration number, you can use it to pay your professional tax now and in the future. Some states offer a rebate to you in case you pay advance professional tax based on prospective income in a lump sum.
Is professional tax applicable in Tamilnadu?
Tamil Nadu is one of the states in India which collects professional tax from the working individuals in the state. The tax is also applicable for professionals like chartered accountants, lawyers, doctors, etc.
Is PTEC compulsory?
Obtaining a PTEC registration is mandatory within 30 days from the date of incorporation or start of the business or practice, i.e; you have to apply for PTEC within 30 days of obtaining S & E license, Certificate of Incorporation, Service Tax RC, Sales Tax RC, etc.
What is professional tax employee code?
Every employee whose income is Rs. 15000 or more is liable to pay professional tax of Rs. 200 per month . The employer is liable to pay this amount to the government deduct this amount from the salary of the employee.
What is difference between PTEC and Ptrc?
PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate. ... On the other hand PTRC allows the employer to deduct and deposit professional tax from the salary of its employees and deposit it to government.
Is professional tax mandatory?
It is a source of revenue for the government. ... It is deducted by the employer from their employee every month and remitted to state exchequer and in some states sent to the Municipal Corporation. It is mandatory to pay professional tax . The tax payer is eligible for income tax deduction for this payment.
What is PT in salary slip?
When you look at your payslip or salary slip, along with the deduction column, you will notice a deduction marked as “PT”. PT or Professional Tax , as it is called, is a tax paid to the state government. ... In this post, we will be discussing about Professional Tax. Every employee has to pay PT based on his/her earnings.
Is professional tax and TDS same?
TDS amount is like advanced Tax . Professional tax is collected by state government. ... You may work in any organisation , but practicing your profession you are paying tax to the state government. The government rule is it deduct from your salary.
