1 / 4

Employees can take to adapt to new tax – Professional tax preparation

Professional Tax is levied on professions,trades and compulsorily paid by every employee.We help in Professional Tax registration and online tax preparation.<br><br><br><br>

vcare17
Download Presentation

Employees can take to adapt to new tax – Professional tax preparation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Employeescantaketo adapttonewtax– Professionaltaxpreparation

  2. Whatisprofessionaltax? Professionaltaxisleviedbystategovernmentontheincomeearnedbythewayof profession,trade,callingoremployment. •Thepowertolevyprofessionaltaxhasbeengiventothestatesbywayofclause(2) ofArticle276oftheconstitutionofIndia. DeductedandPaidBy? Incaseofsalariedandwageearners,theprofessionaltaxisliabletobedeductedby theemployerfromthesalary/wagesandthesameistobedepositedtothestate government. Incaseofotherclassofindividuals,thistaxisliabletobepaidbytheemployee himself. ProfessionaltaxRates IfyouaresalariedemployeeearningaboveRs.12000permonththenyouareliable topay •Rs.200permonth.TheAnnualProfessionalTaxisMaxRs.2500. MonthlySalaryorWagesTaxRates UptoRs5999Nil Rs6000to8999Rs80PerMonth Rs9000to11999Rs150PerMonth Rs12000andAboveRS200PerMonth REGISTRATION TheEmployerhastogetregisteredevenifheisresponsibletodeducttaxfromthe salaryofoneemployee. •FormNo1istheApplicationformforRegistration. •Thetimelimitforregistrationis60daysfromthedateofaccruingliabilityunderthe Act. •TheEmployerhastogetseparateregistrationforeachofhisBranch.

  3. DepositofAmountDeducted Employerscoveredunderthejurisdictionof“StateGovernment”asdesignated authorityshallpayinthetreasurybyChallanthroughthebank.Otheremployers shallpayattheplaceofpaymentdeclaredbytheDesignatedAuthoritiesconcerned. Ifanemployerhasemployedmorethan20employees,heisrequiredtomake paymentwithin15daysfromtheendofthemonth.However,ifanemployerhas lessthan20employees,heisrequiredtopayquarterly(i.e.bythe15thofnext monthfromtheendofthequarter). ProfessionalTaxisleviedonprofessions,tradesandcompulsorilypaidbyeveryemployee. WehelpinProfessionalTaxregistrationandonlinetaxpreparation.

More Related