Tamil nadu professional tax slab 2022-23

Many salaried employees might be very well aware of the term ‘professional tax’ as it would have been mentioned in the payslips/Form 16 issued to them. But all of them may or may not understand what it is and why is it appearing in their payslips/ What is a professional tax and who levies it? The nomenclature ‘Professional tax’ could be one of those terms which do not completely convey the real meaning of the term. Unlike the name suggests, it is just not the tax levied only on professionals. Professional tax is a tax on all kinds of professions, trades, and employment and is levied based on the income of such profession, trade and employment. It is levied on employees, a person carrying on the business including freelancers, professionals, etc., subject to income exceeding the monetary threshold if any. As per Article 246 of the Constitution of India, only Parliament has the exclusive power to make laws with respect to the Union List which includes taxes on income. The state has the power to make laws only with respect to the Concurrent and state list. However, professional tax though is a kind of tax on income levied by the state government (not all states in the country chose to levy professional tax). The state government is also empowered to make laws with respect to professional tax though being a tax on income under Article 276 of the Constitution of India which deals with tax on professions, trades, callings and employment. It may be noted that professional tax is ...

The Tamil Nadu Professional Tax Rules, 1999 Applicability A person or employer by whom tax is payable under this Act Exemption Not Applicable Registration Form Registration Process Online List Of Documents For Registration Memorandum Of Association & Incorporation Certificate Articles Of Association PAN Card Lease Agreement Shops and Establishment Registration Certificate / Trade License Copy Website Professional Rates Salary (INR) PT Amount Remarks Upto 21000 ₹ Nil Between 21001 To 30000 ₹ 135.00 Between 30001 To 45000 ₹ 315.00 Between 45001 To 60000 ₹ 690.00 Between 60001 To 75000 ₹ 1025.00 Above 75001 ₹ 1250.00 Filing Of Returns Task Last Date Of Filing Returns Form Payment Of Employer Tax Every 6 month(s) starting on last day of September Disclaimer: The information contained in this website is for general information purposes only. The information is provided by www.simpliance.in, a property of Simpliance Technologies Pvt. Ltd. While we endeavour to keep the information up to date, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. For any suggestions or feedback write to us at [email protected]

This article provides a summary of the current tax rates in India for the year 2022-2023 to help provide an overview of the tax system. • Income Tax The income tax in India is levied at the central and state levels. The central income tax rate is currently 20%. The state income tax rates vary from state to state, but they are generally lower than the central rate. For example, the state of Tamil Nadu has a state income tax rate of 10%. • Custom Duty Custom duty is an import tax that is levied on various items that enter India from other countries. The custom duty rate currently stands at 10%. • Service Tax The service tax in India is levied on services that are provided to Indians or Indian residents. The service tax rate currently stands at 12%. • Wealth Tax The wealth tax in India is an indirect taxation mechanism that is used to collect revenue from high-net-worth individuals and families. The wealth tax rate currently stands at 40%. Current Tax Rates in India In India, the current tax rates for individuals and businesses range from 10% to 30%. These rates are reviewed and updated annually by the Indian government. The main taxes that Indian citizens pay are the Central Sales Tax (CST) and the Value Added Tax (VAT). The CST is a tax levied on goods and services sold in the country. The VAT is a tax that is levied on all types of sales, including personal services. There are also other taxes that apply to specific industries or businesses. For example, companies that pro...

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