Karnataka Professional Tax 2023-24
4 minutes read

Karnataka Professional Tax 2023-24

In this post, we will discuss the latest update of Karnataka Professional Tax 2023-24.

On 24th Feb 2023, The Karnataka Government notified the bill of Karnataka Tax on Profession, Trade, Callings and Employment (Amendment) Act, 2023 to Karnataka Tax on Profession, Trade, Callings and Employment Act 35 of 1976.

According to the notified schedule of Karnataka Professional Tax limit to deduct is increased from Rs.15,000 to 25,000.

For the salaried employee or wage earner, whose earning is between Rs.15,000 to 24,999, then there will be no deduction and they will earn extra Rs.2,400 Per annum from the date of 1st April 2023. Earlier, the threshold of professional tax in Karnataka was 15,000.

This amendment of PT will be beneficial for all class businesses, such as small businesses that can save compliance costs, file returns and no need to deduct PT of the employees if they are earning below Rs.24,999.

The Karnataka Professional Tax Rate 2023-24 for salary and wages earner.

Monthly Salary/Wages Amount payable in Karnataka PM
Less than Rs.24999Nil
Rs.25000 and aboveRs.200 per month

To know more about Karnataka Professional Tax, click here.

Related Posts

PT Rates for different states

Join our exclusive Saral PayPack Insights WhatsApp Group for HRs and Payroll Professionals to stay ahead in the ever-evolving trends.

Get timely reminders, regular updates and insights into various aspects of payroll & HR operations as well as a sneak-peak into our Payroll software which is trusted by 5000+ professionals.

Scan the QR code or visit the link: https://bit.ly/payrollinsightsbysaral