Sub: Karnataka Tax on professions, Trading, Callings and Employments Act, 1976 – Waiver of interest and penalty liable /payable for delayed payment of Profession Tax in respect of branches of banks (banking companies) for the years 2003-04 to 2008-09- regarding.

Approval of the Government is accorded to condone the delay in payment of professional Tax by banking companies as defined in the Banking Regulations Act, 1949 in respect of their branches for the years from 2003-04 to 2008-09 and to waive the consequential penalty and interest leviable / payable subject to the condition that the Professional Tax payable in respect of all their branches for these years are paid by them within thirty days from the date of this Government Order, if not already paid.