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Professional Tax Registration
Professional Tax is known to many as an item which appears in Form 26AS. Broadly, it is a tax levied by various state governments of India on salaried individuals working in government or non-government entities or in practice of a profession such as Chartered Accountants, Lawyers, Doctors, etc. or carry out some form of business. Since it is a tax levied by the states, the rates and methods of collection vary from state to state.
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Legal Provisions Of Professional Tax
State Covered
It is not imposed in all the states. States that levy professional tax are Andhra Pradesh, Assam, Chattisgarh, Gujarat, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Meghalya, Odisha, Sikkim, Tamil Nadu, Telangana, Tripura and West Bengal.
Who to bear?
It is deducted from the salary of salaried employees by the employers and deposited with the State Government.
When to take registration?
It is mandatory within 30 days of employing staff in a business and for professionals, it is mandatory to take within 30 days of starting practice..
Deduction to Employees
Deduction from salary can be claimed by the taxpayer on account of professional tax paid. The deduction will be allowed in the year in which the tax is actually paid by the employee.
Easy Compliance
Compliance with professional tax regulation is easy.
Rate of Tax
Professional tax being levied by the State Government. Every state has its own laws and regulations to govern professional tax of that particular state. Thus, the rate varies from state to state. Generally, the state follows slab-based taxation.
Who should get this registration?
Employers who need to deduct professional tax from the employees’ salaries and deposit them with the government. Employers ranging from corporates to individuals carrying on trade/profession. Freelance business persons without any employees (subject to monetary threshold provided by states.
Why should you get this registration?
Failure to obtain professional tax registration could result in fines and penalties that accrue over time. The quantum of penalty varies from state to state.
Process Of Professional Tax Registration
You need to submit requisite documents with the Taxified team. Our team of professional will vet the documents and intimate the deficiencies, if any.
Our team will submit the application for registration with the concerned department of the state where registration is required. Different states have prescribed different procedure of registration.
Our team keeps up regular check with the concerned authorities. The deficiencies, if any, shall be communicated to you. The response is submitted to the queries raised by the department.
After satisfaction, the final registration certificate is issued by the concerned authorities.
Documents/ Details required for Personal Tax Registration
Certificate of Incorporation
Certificate of Incorporation, MoA and AoA in case of the company.
LLP Agreement
LLP Agreement in case of LLP.
Employees Pan Card
Copy of PAN Card of Employee.
Proof of Premises
Proof of Premises of the Company and NOC from the owner if it is not owned.
Details of Bank Account
Details of Bank Account of Company, Cancelled Cheque, and Bank Statement.
Director Details
List of Directors, Passport size photographs of all Directors, and their ID and Address Proof.
Copy of Board Resolution
Copy of Board Resolution or Consent Statement of partners.
Details of Employees
Details of No. of Employees.
Attendance Register & Salary Register
Attendance Register & Salary Register.
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