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Hyderabad, Dec. 15

Salaried employees in Andhra Pradesh, whose monthly income is Rs 5,000 or less,will be exempted from the payment of professional tax. The Chief Minister, Dr Y.S. Rajasekhara Reddy, took this major decision, which will not only help tens and thousands of State Government employees, but lakhs of salaried lower middle class and middle class people whose salary is less than Rs 5,000. The Chief Minister on Friday reviewed the issue of rationalisation of tax structure and tax sl abs under the A.P. Tax on Profession, Trade, Callings and Employments Act, 1987, according to an official release. The Profession Tax Act as on today exempts salaried employees whose monthly salary is less than Rs 1,500 per month and any dealer or trader whose annual turnover is less than Rs 1,00,000 per annum.

— Our Bureau

More Stories on : Income Tax | Financial Policy | Andhra Pradesh

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