How much is the professional tax in Kerala?
Kerala Professional Tax Slab
| S.No | Half Yearly Income | Half Yearly Professional Tax |
|---|---|---|
| 1 | Up to Rs.11999 | Nil |
| 2 | Rs.12000 to Rs.17999 | Rs.120 |
| 3 | Rs.18000 to Rs.29999 | Rs.180 |
| 4 | Rs.30000 to Rs.44999 | Rs.300 |
How is professional tax calculated in Kerala?
As per the Kerala Municipal Act, 1994, it is mandatory to pay profession tax for all employees or who are drawing a half-yearly salary of more than Rs. 12,000….Kerala Profession Tax Slab & Rates.
| Income Slab (half-yearly) | Profession Tax (payable half-yearly) |
|---|---|
| Upto Rs.11,999 | Nil |
| From Rs.12,000 to Rs.17,999 | Rs.120 |
What are the slabs for professional tax?
Which states impose professional tax and what are the tax slabs?
| State | Income per Month | Tax Rate/Tax Amount (per month) |
|---|---|---|
| Karnataka | Up to Rs. 15,000 | Nil |
| Rs. 15,001 onwards | Rs. 200 | |
| Kerala (Half yearly income slabs and half yearly tax payment) | Up to Rs.11,999 | Nil |
| Rs.12,000 to Rs.17,999 | Rs.120 |
How can I calculate my professional tax?
For example, if you are a working professional in Gujarat earning Rs. 20,000 a month, your monthly professional tax will amount to Rs. 200 and your annual professional tax will be Rs. 2400.
Who is responsible for professional tax in Kerala?
As per the Kerala Municipality Amendment Act, 2015, it is mandatory for all individuals who are drawing a half-yearly salary of more than Rs. 12,000 to pay Kerala professional tax.
How is TDS on salary calculated?
The employer deducts TDS on salary at the employee’s ‘average rate’ of income tax. It will be computed as follows: Average Income tax rate = Income tax payable (calculated through slab rates) divided by employee’s estimated income for the financial year. 1,00,000 per month during the FY 2019-20.
Is professional tax calculated on gross salary?
Professional tax is calculated every month based on your gross salary for that month. The professional tax will be levied on this amount of Rs. 40,000. So, each month based on the increase or decrease of your gross salary, your professional tax slab will also differ and accordingly, your employer will deduct this tax.
Who all should pay professional tax?
A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this professional tax. Different states have different rates and methods of collection.
Which is the best professional tax slab in India?
Professional Tax Slab Rates State Wise in India 2020-21 Monthly Salary Professional Tax Up to 10000 Rs Nil 10001 Rs – 15000 Rs 150 Rs / month 15001 Rs – 24999 Rs 180 Rs / month Above 25000 Rs 208 Rs / month
What kind of tax is professional tax in Kerala?
Professional Tax Kerala Professional tax is a tax levied on individuals on the working class – salaried individuals, working in Government or Non-Government entities or of any profession. This also includes Chartered Accountants/Lawyers or persons carrying out some form of business.
What is the rate of professional tax in India?
As this tax is a state subject, the rate of profession tax varies from one state to another. While some states might charge it as a percentage value, other states tend to charge it as a fixed amount based on income slabs. The following are the professional tax rates in key states in India:
What is the professional tax rate in Karnataka?
Professional Tax in Karnataka is levied under the Karnataka Tax on Professions, Trades, Callings and Employment Act 1976. Tax Slab rates in Karnataka on Salary/Wage earners are as follows: Different slab rates in Karnataka are for a different class of individuals and the above slab rates are only for salary/wage earners.