Profession Tax
Professional Tax is a tax levied by the state on the income earned by way of profession, trade, or employment. No matter how complex your tax situation is, our Profession tax filing team makes it easy for you.
What is Profession Tax?
Professional Tax is a tax levied by state governments in India on salaried individuals, professionals, and businesses. The implementation of this tax and its amount varies from one state to another within the country, and not all states impose it.
The tax is usually deducted by the employer from the salary of the employees and is paid to the state government. The maximum amount that can be imposed as professional tax is INR 2500 per annum.
This tax is governed by the ‘Professional Tax Act’ of the respective state where it is being levied. The basis for the calculation can be income slabs set by the state government, and the tax is usually paid monthly.
It is important to ensure that your organization complies with the professional tax laws in your state.
Our Professional Tax Return Filing Services
At Greenvissage, we understand that professional tax compliance can be a complex and time-consuming process. That’s why we offer professional tax return filing services that are designed to make the process as simple and stress-free as possible.
Our team of experts has years of experience in dealing with the complexities of professional tax in India. We provide a wide range of services to meet the unique needs of our clients, including professional tax return filing, tax planning, compliance review, and more. We work closely with our clients to ensure that they are fully compliant with all professional tax regulations in India, helping them avoid costly penalties and legal issues.
Our experts can help you identify all the deductions and credits available to you, minimizing your tax liability and maximizing your tax savings.
We pride ourselves on providing exceptional customer service and support. Our team is available to answer any questions or concerns you may have about professional tax in India, and we will work with you to ensure that your tax returns are filed accurately and on time.
If you’re looking for a reliable and affordable way to prepare your professional tax return filing, look no further than Greenvissage. We are committed to providing our clients with the highest quality services at a competitive price.
Let us take the hassle out of filing your professional tax returns this year!
Professional Tax Return Filing with GreenVissage
Professional tax return filing is an essential task for any company in India, and at GreenVissage, we understand the importance of filing accurate and timely returns. Here are some of the benefits of choosing our Professional Tax return filing services:
The company is also a person carrying on a profession/trade and hence is required to pay PT on its trade/profession. Companies are required to obtain a PT registration certificate number for the Company and PT enrolment certificate to be able to deduct the tax from their employees’ pay. We do the PT registrations for the company.
After deducting PT, we make the payments online through the Government portals. The payments need to be made before filing the returns. There are interest and penalty implications for non-payment of tax.
Once the company payroll processing is taken up by our Team, the company need not worry about any statutory deductions mandated by the Government. We will implement the deductions in the payroll system for all the employees and this will appear on the monthly payslip for the employees to understand.
Every state has defined the parameters and frequency of return filings. Non filing/late filing of returns may attract penalty. For eg: In Maharashtra, a company has to file monthly returns till the end of the first financial year in which the PT certificate is taken, thereafter it depends on the total liability of the year if less than Rs 1,00,000 then an annual return is applicable or else the monthly returns continue. We file PT returns for companies.
Any notices from the PT state department are addressed by us by either online replies or manual submissions. It is ensured that any notices if issued, are closed.
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Testimonials
I always found doing business with Team Greenvissage is very pleasurable. They helped us setup the company in India and guided us through the legal minefield & ensured all compliances were adhered to strictly.
Thanks to their legal & financial support, I could fully concentrate on the Business operations, knowing the legal and fiscal are in good hands.
Known Amit and Kethan for over 15 years now and have been utilizing their services for our end to end Accounting/Tax/Payroll needs..not only are they super professional and knowledgeable they also make the best of friends a business owner can ask for!
We have been receiving personal attention from the Directors at all times. The support staff is very helpful and they try to understand the issues at hand, with all sincerity and professionalism. For emergencies we do get immediate personal intervention.
The services they provide are exemplary on a professional and knowledgeable, yet friendly level.
We particularly value their pro-active style of suggesting ideas and solutions regarding all accounting/ compliance/ payroll/ tax/ forex matters of our business,
and the way a smooth transition and taking over of our accounting/ auditing tasks from our earlier CA was accomplished.
One of the key criteria for start-ups is that the accounting firm should be flexible, understanding and very approachable.
I am happy to state that Greenvissage and its team is exactly this.
The team is ably headed by Amit and Kethaan. Both of them very well understand that the business cycles go through tough times and they make sure to support during tough times too.
I believe this is the test of good partner organization.
Contact Us
If you need any information or assistance we encourage you to Contact Us! We will be happy to help!
FAQ: Profession Tax
Professional tax is a state-level tax that applies to salaried employees and professionals, including freelancers, within India. The maximum amount that can be levied as professional tax is Rs 2,500 per annum.
Both salaried employees and self-employed people in India are required to pay this tax. The employer deducts this tax from the salaries of the employees and pays it to the state government.
No, not all Indian states impose a professional tax. The state governments that impose professional tax are Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Meghalaya, Odisha, Sikkim, Tamil Nadu, Telangana, Tripura, and West Bengal.
If an individual or business fails to pay professional tax, penalties may be levied. The exact penalties vary by state, but could include fines and/or interest on the amount owed.
Professional tax isn't refundable, but it is allowed as a deduction under the Income Tax Act. This means you can subtract it from your gross income when calculating income tax.
No, the rate at which professional tax is charged varies from state to state. Each state has its own slabs and maximum limit based on income levels.
The tax is usually deducted by the employer and remitted to the state government. If you're self-employed, you'll need to calculate the tax yourself based on your state's tax slabs, and pay it directly.
Certain categories of individuals are exempted from the professional tax. This may include parents of children with permanent physical disabilities or mental retardation, individuals aged 65 or older, etc. The exact list of exempt categories differs between states.