Reasons to Obtain Professional Tax Registration
Employers in certain states are required to mandatorily obtain professional tax registration, deduct and pay service tax on behalf of employees.Know More IMPORTANT
Failure to obtain professional tax registration or remit professional tax could result in fines and penalties that accrue over time.
Compliance with professional tax regulation is easy. Professional tax registration can be obtained easily and compliance maintained easily.
A deduction from salary can be claimed by the taxpayer on account of professional tax paid. The deduction for professional tax will be allowed in the year in which the tax is actually paid by the employee.
State Government Tax
State Governments and Local Authorities are empowered to collect professional taxes on professions, trades, callings and employment. The amount of professional tax collected does not exceed Rs.2500 per annum.