Profession Tax
Profession 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, Our Profession tax filing Team makes it easy for you.
Profession Tax
Profession tax is a tax levied by the state on the income earned by way of profession, trade or employment. The tax is levied based on slab rates depending upon the income of the individual. Employers have to deduct the Profession tax from the salary of the employee and deposit the same with the state government.
Profession tax is a deductible amount as per the Indian Income Tax Act and can be deducted from the taxable income.
Every state has its own rules and regulations to govern Profession tax as it is levied by the State Government. Common thing is that all the states follow the slab system based on the income to levy Profession tax. There is a cap of Rs 2,500 beyond which Profession tax cannot be charged on any person.
Avail our Profession Tax Filing service now!
How Greenvissage helps Companies to comply with this state tax
Company is also a person carrying on profession/trade and hence is required to pay PT on its trade/profession. Companies are required to obtain PT registration certificate number for the Company and PT enrolment certificate to be able to deduct the tax from its 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.
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