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Professional tax registration for employers having less than 40 employees.
Professional Tax is a tax that is conscripted by the state Government. Professional Tax in India is imposed on income received by any trade and is remitted by the employer.
Professional tax is same as the income tax, but the only difference between them is the central Government and Professional tax collect the income tax directed by the state Government.
The tax rates vary according to the different states. The uttermost amount that can be imposed as professional tax is Rs.2500/- per annum.
The tax rate varies across the states. The maximum amount an individual need to pay as Professional tax is Rs.2500/-. It is based upon the gross profit of the pay. It is taken from the professional s income every month by the employer.
Listed below are the state Governments impose Professional Tax in India;
West Bengal, Karnataka, Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat, Kerala, Assam, Chhattisgarh, Orissa, Meghalaya, Madhya Pradesh, and Tripura.
Professional tax in India is appropriate for the listed below individuals and entities;
LLP, firms, Companies, Societies, Corporations, HUF, Association's, Club's, Legal practitioners, Contractors, Architect's, Engineer's, Insurance agents, Chartered Accountant, Company secretary, Tax consultant's, Surveyor's, Medical Doctors, Management Professionals and more.
Application for the Professional Tax registration should be presented to the state tax department within the bound of 30 days of employing staff in a business. In case if there is more than one work place, the application should be made individually to each jurisdiction considering the place of work under the jurisdiction of authorities.
In case if there is any delay in professional tax it can create to a penalty of Rs.5 per day. On delay in payment there will be a penalty of 10% of the tax. In case of the late filing of returns, a penalty of Rs.300 will be levied
We at License Centre are ready to help you whenever you required. It is our immense pleasure to help different entrepreneurs and Professionals. Feel free to contact us for assistance and to know more about the services furnished by us.
09 April: Government Tax Refund to benefit 1 lac businesses and 14 lac individual taxpayers
In light of the COVID-19 pandemic, the Government of India has decided to refund Rs 18,000 crore taxes to both businesses and individuals.
02nd April- Karnataka: Tax on trades and professions extended till 20th May
The earlier date for March month's monthly return was 20th April, and now it has been extended till 20th May. The earlier date for annual enrolment and payment of tax was 30th April; now it has been extended till 30th May.
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