CHENNAI: The Greater Chennai Corporation (GCC) has finalised a 35% hike in professional tax during its council meeting at the Ripon Building on Monday. The proposal, earlier introduced in July, will be implemented from the financial year 2024-2025.
Under the revised structure, individuals with a half-yearly income of Rs 21,001 to Rs 30,000 will pay Rs 180 up from Rs 135. For those earning from Rs 30,001 to Rs 45,000, the tax increases from Rs 315 to Rs 425, while income between Rs 45,001 and Rs 60,000 will see an increase from Rs 690 to Rs 930. However, the tax for income above Rs 60,001 remains unchanged at Rs 1,025 as the union government caps the maximum professional tax at Rs 1,250.
The tax rates are increased once in five years and it was last revised from the first half of 2018-2019.