Professional tax is very much similar to income tax but the professional tax is collected by the state government. Professional tax registration in Srinagar can be obtained through IndiaFilings. The maximum amount to be paid as professional tax is Rs.2500. The amount is, however, depending on the gross income of the professional.
If you obtain professional tax registration in Srinagar every month the tax will be deducted by the employer. This amount that is deducted under professional tax from the salary of the employees has to be deposited with the respective state government.
The professional tax registration application must be submitted to the state tax department within 30 days of employing the staff. In case there is more than one place of work then an application has to be made separately to each authority considering the place of business coming under the jurisdiction.
In case there is a delay in payment of professional tax, then there is a penalty of Rs.5 per day. Also if there is a failure in payment or there is late payment then there is a penalty of 10 % of tax and a penalty of three hundred rupees is imposed.
You can obtain professional tax registration in Srinagar through IndiaFilings, get in touch with our experts today.
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