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Employees can take to adapt to new tax – Professional tax preparation - PowerPoint PPT Presentation


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Professional Tax is levied on professions,trades and compulsorily paid by every employee.We help in Professional Tax registration and online tax preparation.\n\n\n\n

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Presentation Transcript
em p loye

Employeescantaketo

adapttonewtax–

Professionaltaxpreparation

wh a t i s p rofess

Whatisprofessionaltax?

Professionaltaxisleviedbystategovernmentontheincomeearnedbythewayof

profession,trade,callingoremployment.

•Thepowertolevyprofessionaltaxhasbeengiventothestatesbywayofclause(2)

ofArticle276oftheconstitutionofIndia.

DeductedandPaidBy?

Incaseofsalariedandwageearners,theprofessionaltaxisliabletobedeductedby

theemployerfromthesalary/wagesandthesameistobedepositedtothestate

government.

Incaseofotherclassofindividuals,thistaxisliabletobepaidbytheemployee

himself.

ProfessionaltaxRates

IfyouaresalariedemployeeearningaboveRs.12000permonththenyouareliable

topay

•Rs.200permonth.TheAnnualProfessionalTaxisMaxRs.2500.

MonthlySalaryorWagesTaxRates

UptoRs5999Nil

Rs6000to8999Rs80PerMonth

Rs9000to11999Rs150PerMonth

Rs12000andAboveRS200PerMonth

REGISTRATION

TheEmployerhastogetregisteredevenifheisresponsibletodeducttaxfromthe

salaryofoneemployee.

•FormNo1istheApplicationformforRegistration.

•Thetimelimitforregistrationis60daysfromthedateofaccruingliabilityunderthe

Act.

•TheEmployerhastogetseparateregistrationforeachofhisBranch.

d epos i t of amount d e d u c t ed e mplo

DepositofAmountDeducted

Employerscoveredunderthejurisdictionof“StateGovernment”asdesignated

authorityshallpayinthetreasurybyChallanthroughthebank.Otheremployers

shallpayattheplaceofpaymentdeclaredbytheDesignatedAuthoritiesconcerned.

Ifanemployerhasemployedmorethan20employees,heisrequiredtomake

paymentwithin15daysfromtheendofthemonth.However,ifanemployerhas

lessthan20employees,heisrequiredtopayquarterly(i.e.bythe15thofnext

monthfromtheendofthequarter).

ProfessionalTaxisleviedonprofessions,tradesandcompulsorilypaidbyeveryemployee.

WehelpinProfessionalTaxregistrationandonlinetaxpreparation.