All Inclusive Fees
All Inclusive Fees
All Inclusive Fees
Professional tax is a state level tax which is imposed on income earned by way of profession, trade, calling or employment. The tax is based on slabs depending upon the income of individuals who may be self-employed or working as an employee of an entity.
Every employer in specific states is required to deduct taxes from salary when paid to one or more employees when payment made exceeds Exemption limit and deposit with the state government. That entity is required to obtain a registration certificate.
Professional tax is imposed only in following States: Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Tamilnadu, Gujarat, Assam, Kerala, Meghalaya, Odisha, Tripura, Madhya Pradesh, and Sikkim.
In the case of individuals who are self-employed, the tax has to be paid by the individual himself. In the case of employed individuals, the liability is on the employer.
It is mandatory to Pay Professional Taxes in order to rescue from the penalty.
Profession tax is levied by particular Municipal Corporations and the majority of the Indian states impose this duty. It is a source of revenue for the government.
Unlike Income Taxes or GST, it is easy to file Professional taxes. Full fill all compliances under professional taxes.
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