TT Epaper
The Telegraph
 
IN TODAY'S PAPER
WEEKLY FEATURES
CITIES AND REGIONS
ARCHIVES
Since 1st March, 1999
 
THE TELEGRAPH
 
 
CIMA Gallary

Professional tax act gets Assembly nod

Ranchi, Dec. 23: Get ready to pay anywhere between Rs 600 and Rs 2,500 per annum as professional tax starting by the end of March 2012.

The state Assembly today passed the Jharkhand Professional Tax Act 2011, which will cover every professional earning salaries, honoraria as well as commissions.

The commercial taxes department will impose the tax d on persons pocketing an annual income of more than Rs 3 lakh, a nod from the governor.

While it will be Rs 1,200 for persons whose annual salary is between Rs 3,00,001 to Rs 5 lakh, those earning between Rs 5,00,001 to Rs 8 will need to pay Rs 1,800.

For professionals with an annual income of between Rs 8,00,001 and Rs 10 lakh, the tax will be Rs 2,100, while those earning above Rs 10 lakh, will have to shell out Rs 2,500.

The government aims to garner about Rs 50 crore to start with after levying taxes on profession and trades. Professional taxes are currently imposed in 18 states in India.

Email This Page