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Thursday, May 03, 2018

Madhya Pradesh Professional Tax (PTAX) Revised Slab Rate

Profession Tax (P.Tax) slab in Madhya Pradesh have been revised. New rates will be applicable w.e.f. 01-04-2018.

Madhya Pradesh government in its finance budget 2018 have amended the professional tax slab rates for employees. The new PT rates aim at providing some relief to the salaried employees and increase their take home salary.

Professional Tax Slab In Madhya Pradesh For F.Y. 2018-19

Annual Salary Annual PT
Below Rs. 225000NIL
Rs. 225000 – Rs. 3000001500
Rs. 300000 – Rs. 400000 2000
Above Rs. 4000002500

PT is deducted from the monthly salary of the employees in equal installments and deposited with the department using professional tax

Below will be the actual monthly PT deduction rate:
Monthly Salary    Monthly PT
Below Rs. 18750NIL
Rs. 18750 – Rs. 25000125
Rs. 25000 – Rs. 33333167
Above Rs. 33333208


👉MP-BUDGET-2018-19 ( See Yellow Highlighted)