Professional Tax Hiked in the State

by HIOC Team
Published: Last Updated on 102 views

The government has decided to make certain changes in professional tax.

The limit of tax-exemption for salaried/wage earning people has been hiked from Rs.5,000 to Rs.15,000.

According to the new norms, professional tax Rs.150 per month is to be levied on salary/wage earners, in the slab of Rs.15,000-Rs.20,000 and Rs.200 per month for more than Rs.20,000

For VAT dealers, the annual turnover threshold has raised from Rs.5 lakh to Rs.10 lakh.

Small-time contracted having annual turnover of less than 10 lakh have been dropped from the list of tax payers.

According to government sources, the revenue yield from professional tax is Rs.550 crore to Rs.600 crore per year.

Professional tax for different professionals is as follows:

Kind of tax payers New rates to be levied(per annum, in Rs)
Doctors 2500
Lawyers 2500
Architects 2500
Engineers, and other Engineering consultants (with less than five year experience) NIL
Engineers, and other Engineering consultants 2500
Film writers 2500
Still photographers 2500
Cameramen 2500
Dancers 1250
Junior artistes 1250
Musicians 1250
Jockeys with license of turf clubs 1250
Owners or lessees of hotels, restaurants and bars (Less than ten lakhs) NIL
Owners or lessees of hotels, restaurants and bars (Rs 10 lakh- Rs 50 lakh) 1250
Owners or lessees of hotels, restaurants and bars (Above Rs 50 lakh) 2500
Insurance agents and surveyors 2500
Theatres (all categories) exhibiting films 2500

 


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