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WestBengalBudget#|
Major Relief for Taxpayers in State Budget.
WB government has proposed a restructuring of the Professional Tax schedule, increasing exemption limits for various categories of taxpayers. Under the proposal:
The monthly salary threshold for salaried employees exempt from Professional Tax will be raised from ₹10,000 to ₹20,000.
For self-employed professionals, trades and callings, the annual gross income threshold will be increased from ₹60,000 to ₹2.5 lakh.
For traders and businesses, the annual gross receipts/turnover exemption limit will be enhanced from ₹5 lakh to ₹10 lakh.