Professional Tax

Professional Tax

Professional tax is a tax that is imposed by the State government on all salaried individuals. Professional tax is applicable to all working professionals like chartered accountants, lawyers, and doctors. It is levied based on the individual’s employment, trade or profession. The tax rates differ across all states, however, the maximum amount that can be levied as Professional tax is Rs.2,500 per annum.

Professional Tax Features

1. It Is A Judicial Requirements

As per the rules and regulations of India, every employee is bound to make the professional tax payment without fail. Employers in many states of India are strictly bound by the judiciary to obtain the registration of professional tax. After the registration, they have to make the deductions and pay the service taxes of all the employees who work under them.

2. To Avoid Paying Penalties

Failure to professional tax registration results in huge penalties that keep on increasing over time.

3. Easy To Comply

When something is easy to comply, it won’t be difficult to follow. The professional tax regulations are so easy to follow that and not difficult to comply with. The registration procedures can be done quickly and the further proceedings are also much easier.

4. Deductions

Deductions can be claimed in the salary on the basis of the professional tax paid. The deductions will be allowed in the year corresponding to which the taxpayer made the payments.

5. The State Government Tax

The local authorities and the state government have the right to collect all the professional taxes based on employment, profession trades and much more. The collected amount of professional tax per annum should not go beyond Rs. 2500 per an annum.

Frequently Asked Questions

In India, Professional Tax is calculated on Salary slabs. Under minimum salary, there is no tax. The maximum amount paid as Professional Tax is Rs.2500 per year. The tax slabs differ from state to state.
Professional Tax appears at the top of the salary slip as it is deducted even before calculating income-tax. The employer deducts it from the salary of the employee and deposits it with the State Government.
Professional Tax is a mandatory tax paid by every individual, and there are penalties in case of non-compliance.
The Professional Tax Rules vary from state to state. As the rules vary from state to state, each state can set limits and rates. But the maximum amount limit has been developed to Rs.2500 per year. The salary slab structures for levying Professional Tax differ from state to state.

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GYANA PANDAGYANA PANDA
09:23 30 May 23
As a loyal customer of Team IN Filings in Bangalore, I am thrilled to express my utmost satisfaction with the exceptional service they provide. Their expertise in GST filing services and other areas, combined with their commitment to customer satisfaction, has truly impressed me.When it comes to GST filing, Team IN Filings leaves no stone unturned. They have a highly knowledgeable team that meticulously reviews my financial records, ensuring accuracy and compliance with all regulatory requirements. Their attention to detail is commendable, and they always complete the filing process in a timely manner.Moreover, their additional service offerings, such as PT (Professional Tax) assistance, have been instrumental in simplifying my tax obligations. Team IN Filings exhibits a deep understanding of the tax landscape, providing valuable insights and guidance throughout the process. Their expertise has been invaluable in helping me navigate complex tax regulations.What sets Team IN Filings apart is their exceptional customer service. From the moment I engaged with them, their team has been attentive, responsive, and friendly. They patiently address all my queries, provide clear explanations, and ensure that I am fully informed about every step of the process. Their dedication to customer satisfaction is truly remarkable.I also appreciate the transparency and affordability of their services. Team IN Filings offers competitive prices without compromising on the quality of their work. Their pricing structure is fair and transparent, giving me confidence that I am getting excellent value for my money.In conclusion, I wholeheartedly recommend Team IN Filings for all your GST filing and other taxation needs. Their expertise, professionalism, and exceptional customer service have exceeded my expectations. I am incredibly grateful for their assistance and look forward to continuing my partnership with them in the future.Five-star rating: ⭐⭐⭐⭐⭐
Lakshmi harish HarishLakshmi harish Harish
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05:33 24 Apr 23
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04:55 22 Apr 23
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