New Professional Tax Slab Rates 2024-25 PDF: Online Payment, Login, Exemption, Due Date
Professional Tax Slab Rates 2024-25: Professional tax refers to a levy placed on individuals involved in different professions, trades, and forms of employment across the nation. It is determined by the earnings derived from these activities and affects a wide array of individuals, such as salaried workers, entrepreneurs, freelancers, and various other professionals.
The income thresholds for this tax differ from one state to another. For instance, in Karnataka, it applies to those earning more than ₹25,000 a month, while Andhra Pradesh sets the bar at ₹15,000. In West Bengal, the threshold is ₹10,000, Maharashtra has it at ₹7,500, and Tamil Nadu establishes the limit at ₹21,000. This tax is a vital revenue stream for state governments and plays an important role in enhancing local infrastructure and services.
Professional Tax Explained: Essential Guide for Salaried Employees
Every salaried worker, whether employed in the private sector or in various levels of government, is likely familiar with the complexities of the Professional Tax in India. This tax is routinely taken out of their monthly paychecks and appears on their salary slips, as well as the annual Form-16, which plays a vital role in the tax filing process. Therefore, it is crucial for all salaried individuals to keep abreast of the updated tax rates that are typically revised biannually. Being informed about these changes is important not only for ensuring compliance but also for effective financial planning. Grasping these rules aids in making accurate tax payments and supports overall financial well-being.
Professional Tax Rates in Tamil Nadu 2024
On Tuesday, the Greater Chennai Corporation (GCC) made a pivotal decision, enacting a notable 35% increase in tax rates for workers earning over Rs 21,000 each month. This resolution, thoughtfully designed, allows for a review of tax rates every five years by the governing authority.
In line with the financial strategies for the fiscal year 2024-2025, the local administration has implemented this significant rise in the biannual tax for salaried employees. Specifically, those making between Rs 21,000 and Rs 30,000 will now owe Rs 180 in tax, up from the previous Rs 135.
For individuals earning between Rs 30,001 and Rs 45,000, the tax has jumped from Rs 315 to Rs 430 every six months. Furthermore, for salaries ranging from Rs 45,001 to Rs 60,000, the tax will now stand at Rs 930, a considerable increase from the old rate of Rs 690.
It’s crucial to highlight that for those earning between Rs 6,000 and Rs 75,000, the existing tax will not change; they will continue to pay Rs 1,025 and Rs 1,250, respectively. Additionally, individuals earning less than Rs 21,000 remain exempt from any tax.
TN Professional Tax Rates Table 2024
| Slab | Rates |
| Below Rs. 21,000 | No Tax |
| Rs. 21,001 – 30,000 | Rs. 180 |
| Rs. 30,001 – 45,000 | Rs. 430 |
| Rs. 45,001 – 60,000 | Rs. 930 |
| Rs. 60,001 – 75,000 | Rs. 1,025 |
| Above Rs. 75,001 | Rs. 1,250 |
Professional Tax Rates in Maharashtra 2024
In Maharashtra, a state in India, both men and women are subject to a Professional Tax, but the rates differ based on their monthly incomes. For men, there’s no tax if their earnings are Rs. 7,500 or less. Those with monthly incomes from Rs. 7,501 to Rs. 10,000 face a monthly tax of Rs. 175. For anyone earning over Rs. 10,000, the annual tax jumps to Rs. 2,500. To clarify these tax brackets and rates, the table below provides a comprehensive overview of all pertinent details and categories.
| In case of Men Whose Monthly Salary or Wages | |
| Upto Rs.7500 | No Tax |
| Rs. 7501 to Rs. 10000 | Rs.175 Per Month |
| Above Rs.10000 | Rs.2500 Per Year |
| In case of Women Whose Monthly Salary or Wages | |
| Upto Rs.25000 | No Tax |
| Above Rs. 25000 | Rs.2500 Per Year |
Professional Tax Rates in Karnataka 2024
In 2024, the government of Karnataka has set forth specific tax rates that impose financial responsibilities on individuals earning salaries or wages. Under these regulations, anyone earning Rs. 25,000 or more each month must pay a monthly professional tax of Rs. 200. This tax targets individuals engaged in various professions, trades, and employment within Karnataka, facilitating an organized tax collection system.
The obligation to pay this professional tax applies to all actively working in these fields, with compliance responsibilities varying based on employment type. For salaried workers, employers play a crucial role by deducting the correct professional tax from employee wages and ensuring timely payments to the state government as per the defined rate brackets. Additionally, employers are tasked with registering for professional tax by obtaining the required registration certificates to fulfill all legal requirements.
Self-employed individuals looking to meet their professional tax obligations will find the process quite simple. They can register online using their Permanent Account Number (PAN) or Goods and Services Tax Identification Number (GSTIN) and proceed to make payments through digital platforms. This streamlined approach enables professionals to efficiently handle their tax responsibilities in a hassle-free manner within the online environment.
Who are all eligible for Professional Tax in Karnataka?
- Individuals receiving a monthly salary or wage of Rs. 25,000 or more
- Self-employed persons engaged in Professions, Trades, Callings
and Employments - Legal practitioners
- Consultants
- Agents
- Chartered Accountants and Actuaries
- Engineers
- Health care professionals
- Estate Agents or Brokers
- Beauty parlours
- Dry cleaners and interior decorators
- Computer Training Institutes
- Driving Institutes
- Technical Training Institutes
- Astrologers
- Astropalmists
- Numerologists
- Vaastu consultants
- Directors
- Actors and Actresses