(1) Subject to the provision of article 276 of the Constitution of India and of this Act, there shall be levied and collected a tax on profession, trades, callings and employments for the benefit of the State.

(2) Every person excluding firms (whether registered under the Indian Partnership Act, 1932, or not) and Hindu undivided family engaged actively or otherwise in any profession, trade, calling or employment and falling under one or the other of classes mentioned in the second column of Schedule I shall be liable to pay to the State Government the tax at the rate mentioned against the class of such persons in the third column of the said Schedule :

Provided that, the tax so payable in respect of any one person shall not exceed two thousand and five hundred rupees in any year:

Provided further that, entry 21 in Schedule I shall apply only to such classes of persons as may be specified by the State Government by notification in the Official Gazette, from time to time.