PROFESSIONAL TAX REGISTRATION
Professional tax differs based on state but the maximum tax levied cannot exceed Rs. 2,500 on yearly basis.
Benefits of Professional Tax registration
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ONLINE PROFESSIONAL TAX REGISTRATION –AN OVERVIEW
State government has imposed a tax on all salaried individuals known as professional tax, applicable on all working professionals for ex- CAs, Lawyers and Doctors based on the nature of their respective occupation. Professional tax differs based on state but the maximum tax levied cannot exceed Rs 2,500 on yearly basis.
EASY OLINE PROFESSIONAL TAX ELIGIBILITY
Professional tax applicability- it is applicable to all kinds of occupation all across the world irrespective of the jurisdiction they are working under. It will be either paid or deducted through all the working professionals across the world. Professional tax for self employed- any working individual who receives a payment monthly are expected to pay this tax.
WHO IS EXEMPTED FROM PAYING PROFESSIONAL TAX?
UNDERSTANDING THE PROFESSIONAL TAX REGISTRATION APPLICABILITY
Taxable entities include firms, LLPs, HUFs, association, clubs, societies, corporation and companies which have to pay professional tax. All the branches working under the companies will be considered separate entities under professional tax
- Individuals (professionals)
Legal practitioner, medical representatives, commercial professionals and contractor are all grouped in professional tax payers.
- Partners and directors
Professionals working for an organization are eligible tp pay professional tax within 30 days of getting appointed in their respective roles for example- company directors, LLP partners and designated partners.
The company must be certified with a professional tax enrollment certificate (PTEC) within 30 days of the company’s incorporation through a government portal. When the organization hires new employee, he/she is to mandatorily pay tax within 30 days of official joining in the company. The employees’ tax is to be deducted from their respective payment and submitted as professional tax.
WHAT ARE THE CONSEQUENCES OF PROFESSIONAL TAX VOILATION?
Every state legislation has their own respective penalty charges. If the organization has not registered after the tax legislation is made applicable they are to pay their charges mentioned by their jurisdiction. The penalties are also applied to payments made after due date or if the return is not filed within the specified due date.
DOCUMENTS REQUIRED FOR PROFESSIONAL TAX REGISTRATION
PAN card of incorporation /LLP attested by the company director
Proof of office location with NOC
Passport size photograph
Identity proof from all the directors
Certificate of incorporation, including MOA and AOA/LLP agreement
Board resolution/statement of consent by the partners
Salary register and attendance register
Shop and establishment certificate
Proof of company bank account with their bank statement and a cancelled cheque
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