Uploaded on May 30, 2022
Professional tax registration in Chennai is applicable to each organization which conducts business and for people engaged in any profession, trade, calling or employment. The professional tax is calculated by self assessment and is based on the half-yearly gross income of the employee or professional.
professional tax registration
Professional Tax Registration chennai Professional Tax Registration Professional Tax Registration in chennai is applicable to each organization which conducts business and for people engaged in any profession, trade, calling or employment. The professional tax is calculated by self assessment and is based on the half-yearly gross income of the employee or professional. The Purpose of Professional TAX Professional tax is levied by the state government of that particular state. Professional tax registration chennai is the tax that is levied on the income that is earned by any trade and is remitted by the employer Who Pays Professional Tax Self-employed individuals who are working on any kind of profession, business and trade will come under the category of pt registration and are legally responsible for paying professional tax to the state government. The tax is calculated from the annual taxable income of the professionals and it can be paid annually and also as monthly tax. Benefits of Professional Tax Registration Total amount of Professional Tax paid during the year is allowed as deduction under the Income Tax Act. The Professional Tax is a source of revenue for the state governments which helps in implementing schemes for the welfare and development of the region. Professional Tax Applicable HUF Individual One person Company/Private/Public Co-operative Society Body of Individuals Association of Person Payment of Professional Tax Professional tax is debited at a pre-determined slab rate, either monthly or annually by the Commercial Tax Department of that particular state. A self-employed person can pay professional tax online directly while in case of salaried individuals, it is completely employers’ responsibility to deduct the professional tax and deposit such tax to that particular State Government. Professional Tax Registration Process Filing the Application Online. Filing the form along with the Requisite Documents. Submit Hard Copy. Scrutinization by the Tax Authority. Issuance of Registration Certificate. Consequences of Violation of Professional Tax Regulation Individuals who fail to submit their p tax return are levied for the penalty. All states enforce a penalty for individual who is not registering professional tax even after it has become applicable. The amount of penalty for not submitting the professional tax varies from state to state. Company Registration Services in Chennai For registering a New company/startup or any other Related Query Contact us- No.13/22, 1st & 2nd Floor, West Karikalan Street, Adambakkam, Chennai, Tamil Nadu 600088 phone: 7305 345 345 Email: [email protected]
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