Payroll ProcesProfessional Tax Registration Servicesing
In India, state governments impose a professional tax. This is relevant to people who work as professionals like chartered accountants, lawyers, and doctors or who receive a salary. Rates and collection strategies are set by each state. The majority of Indian states impose this tax through municipal corporations, which makes it a substantial source of funding for the government.
Professional tax rates are set in slabs according to the taxpayer’s wage, with the highest annual tax amount being INR 2,500. This tax is also paid by employees of private enterprises; their employers deduct it each month and send it to the Municipal Corporation.
Professional tax must be paid, and taxpayers can deduct this amount from their income.
Some of the following states have professional tax laws:
Madhya Pradesh, West Bengal, Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat, Assam, Chhattisgarh, Kerala, Meghalaya, Orissa, and Tripura.
Professional Tax Deduction Slab:
A professional tax payment of up to Rs. 2,500 is required annually. It is taken out of his or her monthly income in all other situations, or from the employer’s monthly salary. Depending on the appropriate state and salary/income range, the monthly slab for professional tax deductions varies.
Professional Tax Payment date :
Professional tax that has been withheld must be deposited before the deadline. States have different deposit deadlines.
Required Documents for PTRC
- Applicant's PAN card.
- Applicant's Aadhaar card.
- Proof of address, like a property tax receipt, phone bill, or utility bill.
- EvidenProof of tenancy or ownership of a business space, such as a lease or other real estate records.ce of business premises ownership or tenancy, like a rent agreement or property documents.
- Details about a bank account, including the bank name, branch location, account number, and type.
- Applicant's photographs.
- Authorization letter or board resolution for the authorized signatory.
- If applicable, the applicant's GSTIN or TIN.
- Documentation proving the start of a business or profession, such as a partnership deed, registration certificate, or incorporation certificate.
- Employee details and corresponding salary/wage records, if applicable.
