Professional Tax

Professional Tax is a state-level tax levied on professions and trades in India. It has to be compulsorily paid by every member of the staff of any private company. It’s the owner’s responsibility to deduct the professional tax from the salaries of his employees and pay the collected amount to the respective department of State Government.

It is a slab amount based on the gross income of the professional. Its deducted from his/her salary every month and is later eligible for deduction from the computation of the taxable income. The Municipal Corporation provides the registration of the same to the employers and business owners. As it is a state-based registration, the rate of tax and method of registration are different. The state governments that levy professional tax is Karnataka, West Bengal, Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat, Assam, Chhattisgarh, Kerala, Meghalaya, Orissa, Tripura and Madhya Pradesh. Further, there are two types of registrations namely – PTEC and PTRC.

Benefits

Mandatory Requirement

The Government of certain states has made it compulsory for employers to obtain professional tax registration and deduct and pay service tax on behalf of employees.

Circumvent Penalties

Failure to obtain professional tax registration or remit professional tax could result in fines and penalties that accrue over time.

Titular Payables

The burden on the taxpayers is titular. The taxes deducted are very nominal and are structured according to the salary of the individuals. The amount of professional tax collected does not exceed Rs 2500 per annum.

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Documents Required

1.

Identity Proof

A self-attested copy of ID proof of Proprietor/ Partner/ Director

2.

Address Proof

Self- attested copy of address proof of Proprietor/Partner/Director, Shop and Establishment Certificate(if any)

3.

Passport Size Photograph

3 passport sized photograph of the Proprietor/ Partner/ Director

4.

Incorporation Documents

MoA – AoA of Company, Partnership Deed/ LLP Agreement, etc. along with the registration certificate, if any

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