Currently, Hyderabad is one of the top three cities that job seekers prefer to work in or relocate to. The promising job market here attracts thousands of job aspirants. If you are one such who has recently moved to Hyderabad for a job, you must know certain things which are applicable throughout the Telangana State. All earning individuals of Telangana must pay professional tax as per their income.
As a result, all earning individuals of Hyderabad must pay the amount as per the tax slab rates. Read on to know everything about professional tax in Hyderabad.
Professional tax is a direct tax that the State Governments levy on the income of individuals and deducts from the taxable income. Professional tax is not only imposed on salaried individuals but also on all earning individuals who are involved in any profession, trade, callings, employment.
As per this definition, individuals of Hyderabad who earn income through any medium such as profession, trade, callings, employment must pay professional tax with the city as per the applicable tax rate in Telangana.
Please refer to the table mentioned below to know the applicable professional tax slab rates in Hyderabad, i.e., Telangana.
|
Monthly Income |
Tax Per Month |
|
Up to ₹ 15,000 |
Nil |
|
From ₹ 15,001 - ₹ 20,000 |
₹ 150 |
|
Above ₹ 20,000 |
₹ 200 |
The Commercial Taxes Department, which is regulated under the Telangana Government, is responsible for collecting professional tax dues within the State. It means this department is responsible for the collection of P tax in Hyderabad as well.
All earning individuals are liable to pay P tax in Hyderabad. For a better understanding, professional taxpayers of Hyderabad can be divided into two categories as per the employment status. They are as follows,
Earning individuals of Hyderabad can pay P tax online. Follow the steps mentioned below to complete the online payment of professional tax in Hyderabad,
Salaried individuals (i.e., employers) or self-employed individuals must pay P tax in Hyderabad on or before the 10th of every month.
In case professional taxpayers fail to pay the due tax amount within the stipulated time, they will have to pay a penalty charge ranging from 25% to 50% of the total due tax amount.
The State Government of Telangana frees certain individuals from paying P tax in Hyderabad and across the State. They are as follows:
Are you browsing the internet to know about the professional tax payment process in Hyderabad? The detailed discussion on professional tax in Hyderabad will help you to pay this tax efficiently. So, read the above sections thoroughly!
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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