WebThe professional tax calculation and amount varies from one state to another, but it has a maximum limit which is capped to Rs 2500/- per year. It may be noted that professional tax is a deductible amount for the purpose of the Income-tax Act, 1961 and can be deducted from taxable income WebDealers / Taxpayers “enrolled” under Professional Tax Act are required to pay Rs. 2500/- annually by 30 th of June each year. Professional Tax can be paid online through the …

Estimate your Income Tax for the current year - GOV.UK

WebIf you want to know how to calculate professional tax on salary in India then you must know some important points about professional tax slab in India. PT is not applicable in … Web20 feb. 2024 · A very easy formula to calculate the income tax is: For Example: Mr Shah has a basic salary of ₹ 1,00,000 per month House Rent Allowance (HRA) of ₹ 45,000 per month Special allowance of ₹ 20,000 per month Leave Travel Allowance (LTA) of ₹ 20,000 per Annum His taxable income would be calculated as follows: black chamber of commerce stl

Professional Tax On Salary: Meaning, Rates, Calculation & More

Web9 apr. 2024 · Individuals can calculate their Professional Tax Liability on the basis of the gross salary and tax slab prescribed by the state government levying Professional Tax. … Web25 jul. 2024 · Step 3: Mr Ahmed will now be taxed on N1,986,538.35 using the new tax table. From the table above, Mr Ahmed will expect an annual tax deduction of N305,173.05 or a monthly tax deduction of N25,431.09. This is a 10.17% effective tax rate for Ahmed. And this is what his take home will look like: WebProfessional tax is compulsory and is levied on any working professional or salaried individual in India. The professional tax amount charged by the state government … black cat with white on neck