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Tuesday, May 29, 2018

Chennai New Profession tax slab 2018



The Profession Tax assessment and collection is coming under the provision of tax on professions, trades, calling & employments, under the Tamilnadu Municipal Laws (Second Amendment) Act 1998 Profession Tax is higher source of income next to Property Tax. The Profession Tax assessment is calculated based of the Half Yearly gross income for the following categories.
  • Individuals
  • Private Establishment
  • Salaried People (Central and State Govt.)
  • Company
Every Company transacts business and every person who is engaged actively or otherwise in any Profession, Trade, Calling and Employment with the Greater Chennai Corporation city limits has to pay half-yearly Profession Tax, as per section 138 C of Tamilnadu Municipal Laws Second Amendment Act 59 of 1998. The tax rates are given below in the table in Form-2. for assessment of Profession Tax has to make an application for registration.

Based on the gross income declared by the Half Yearly Profession Tax will be calculated as per the Table given below:

After 10 Years the respective act has been amended he new slab is given below
Sl.No.
Average Half-Yearly Income
Half Yearly Profession tax Old Slab  
Rs.
Half yearly Profession Tax w.e.f. 01.04.2018
Rs.
1
Up to 21,000
--
NIL
NIL
2
21,001
30,000
100/-
135/-
3
30,001
45,000
235/-
315/-
4.
45,001
60,000
510/-
690/-
5
60,001
75,000
760/-
1025/-
6
75,001 and above

1095/-
1250/-


Notification 👉CHENNAI PT SLAB NEW 2018