Profession tax is collected from all companies and individuals transacting business or engaged in a profession for at least 60 days in a half-year. They are bound to pay the tax at such rates as are fixed by the concerned local government subject to the maximum rates prescribed by the Government. The rates are as follows:-
Table:Rates of Profession Tax in Grama Panchayats & Municipalities
|Sl No||Half-yearly income
|Maximum half-yearly tax
|VII||Between 1 lakh -124,999||1000|
|VIII||Between 1.25 lakh onwards||1250|
Profession tax constitutes the second largest source of own income for the Grama Panchayats and has the fifth position for the urban local bodies.
Other articles related to "tax":
... The resources of the urban local bodies are Tax and Rates Fees and Fines Non Tax revue Grand and Contribution The taxes among them are- Property tax Profession tax Entertainment tax Additional ... The property tax may comprise a tax for general purpose and a service tax viz ... Water tax, drainage tax, lighting tax and Sanitary tax in Corporations and in Municipalities the tax may comprises a tax for General Purpose, lighting tax and sanitary tax ...
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