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Professional Tax Return
All you know about Professional Tax Return
Professional tax, it is just not the
tax levied only on professionals. It is a tax on all kinds of professions,
trades, and employment and levied based on the income of such profession, trade
and employment. However, professional tax though is
a kind of tax on income is levied by State Government, tax rate is differs from
state to state. Every state has its own laws and regulations to
govern professional tax of that particular state.
It is levied on income
earned by employees on rendering their services. Each professional, the
Directors of Company, Designated Partners of the LLP or any other employer
(which may be a Company or LLP) is under obligation to seek registration is deducted
from the salary of employees. The deducted professional tax from the employees
must be deposited, and a return of professional tax must be filed.
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