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Why Choose Professional Tax Registration?
1- Statutory Requirement- Employers in certain states are required to mandatory obtain professional tax registration, deduct and pay service tax on behalf of employees.
2- Avoid Penalty- Failure to obtain professional tax registration or remit professional tax could result in fines and penalties that accrue over time
3- Tax Deductible - A deduction from salary can be claimed by the taxpayer on account of professional tax paid. The deduction for professional tax will be allowed in the year in which the tax is actually paid by the employee.
4- Easy Compliance- Compliance with professional tax regulation is easy. Professional tax registration can be obtained easily and compliance maintained easily.
5- State Government Tax- State Governments and Local Authorities are empowered to collect professional taxes on professions, trades, callings and employment. The amount of professional tax collected does not exceed Rs.2500 per annum.
1- Compliances cost of hire professional 2- Interest & penalty shall be levied if compliance not done 3- Time taken in compliance
Documents Required For Professional Tax Registration
- Address proof( Latest Electricity Bill, Aadhar, Pen Card, Voter id card and more) of proprietor/director/partner
- Passport size photo
- Partnership deed in case of partnership firm
- Copy of GST RC
- Details of employee.
- Details of Salary paid.
- Incorporation certificate in case of Company