loader

Professional Tax: Enrolment, Registration & Payment

Wednesday, April 3rd, 2019 Amritesh 15 responses

Professional tax (PT) is levied by the State Governments in India on salaried individuals, working in government or non-government entities, or in practice of any profession, including chartered accountants, doctors, lawyers etc or are involved in business. States were conferred the power of leveling the Tax under Clause (2) of Article 276 of Constitution of India,1949. The rate at which PT is charged is based on the Income Slabs set by the respective State Governments. However the maximum Professional Tax that can be levied by any State till date is Rs 2500/-. The total amount paid as PT during the year is allowed as Deduction under the Income Tax Act. The professional tax is a source of revenue for the State…

Professional Tax Rates For The FY 2019-20

Monday, April 1st, 2019 Amritesh 365 responses

Professional tax is a tax levied by the various State Governments of India on salaried individuals, working in government or non-government entities, or in practice of any profession, including Chartered Accountants, Doctors, Lawyers etc or carry out some form of business. This form of tax is in practice for a long time and States were conferred the power of leveling the Tax under Clause (2) of Article 276. The Professional tax rates is based on the Income Slabs set by the respective State Governments. However, the maximum Professional Tax that may be levied by any State has been capped at Rs 2500/-. The total amount of professional tax paid during the year is allowed as Deduction under the Income Tax…

State Wise Professional Tax Slabs & Rates

Saturday, April 2nd, 2016 Amritesh 100 responses

Professional Tax is levied by the State Governments in India on Individuals with Salaried Income, employed in Government or Non- Government sector, or practicing any profession, or carrying out any form of business activities. Professional Tax is levied based on the Income/Revenue earned by an Individual or Entity. However, the maximum levy of Professional Tax cannot exceed Rs 2,500/- in a Financial Year. State wise Professional Tax Slabs and Rates has been shared below. In case of Salaried Individuals, Employers are responsible for deduction of the Professional Tax from the Salary of the respective Employees and deposit the same with the concerned authority. The deduction of Professional Tax is based on the PT Rates and Slabs notified by the Competent…

Professional Tax For The Financial Year 2015-16

Monday, March 30th, 2015 Amritesh 179 responses

Professional tax is a tax levied by the various State Governments of India on salaried individuals, working in government or non-government entities, or in practice of any profession, including Chartered Accountants, Doctors, Lawyers etc or carry out some form of business. This form of tax is in practice for a long time and States were conferred the power of leveling the Tax under Clause (2) of Article 276. The rate at which Professional tax is charged is based on the Income Slabs set by the respective State Governments. However the maximum Professional Tax that can be levied by any State till date is Rs 2500/-. The total amount of professional tax paid during the year is allowed as Deduction under…

Professional Tax for the Financial Year 2014-15

Wednesday, September 24th, 2014 Amritesh 5 responses

Professional tax is a tax levied by the various State Governments of India on salaried individuals, working in government or non-government entities, or in practice of any profession, including chartered accountants, doctors, lawyers etc or carry out some form of business. This form of tax is in practice for a long time and States were conferred the power of leveling the Tax under Clause (2) of Article 276. The rate at which Professional tax is charged is based on the Income Slabs set by the respective State Governments. However the maximum Professional Tax that can be levied by any State till date is Rs 2500/-. The total amount of professional tax paid during the year is allowed as Deduction under the…

BOOK NOW