The Chennai Corporation Profession Tax Slab has been revised effective from 01 April 2024. Key Points:
- Effective Date: The new PT slab rates will be applicable starting April 1, 2024.
- Higher Tax Rates: All slabs have seen an increase, with the highest category now taxed at ₹1,500.
- Employer Responsibility: Employers need to ensure correct deduction and remittance of PT for employees based on the new slabs.
- Compliance Deadline: Employers and businesses need to update their payroll systems before the effective date.
Revised Professional Tax Slabs:
Salary Range (₹)-----------Old Tax Rate (₹)----------New Tax Rate (₹)
Up to 21,000 ---------------Exempt--------------------Exempt
21,001 – 30,000-------------135-----------------------180
30,001 – 45,000-------------315-----------------------425
45,001 – 60,000-------------690-----------------------930
60,001 – 75,000-------------1,025---------------------1,250
Above 75,000----------------1,250---------------------1,500