Professional Tax is a tax levied by the State government. Professional tax is levied on income by way of profession, trade or employment. Professional tax is paid by the employer. The Constitution empowers the levy of Profession Tax subject to a maximum of Rs.2500/- p.a. Tax payers will be able to claim professional tax in their IT return as Professional tax is 100% rebatable against Income Tax dues.
Proficient tax 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.
Who is required to register?
Every person carrying on Profession or trade and employing staff is required to register with the State professional tax authority. Employer’s responsibility would also include deducting professional tax from the employee’s salary and remitting it to the government along with filing timely Professional tax returns.
Are you here wondering if you should register for professional tax? Well, do you own a business which employs professionals in a private set up? Then you most definitely need to get a professional tax consultant in Chennai who can register your company.
Each and every employee needs to pay up a fixed amount as professional tax and the amount depends on the salary of the employee. Though it is payable by the employee it is you the employer who needs to ensure and deduct the PT from their salaries and pay it to the government.
You need to opt for Professional tax registration in Chennai within 30 days of hiring the staff for your business or company. Failure to do so means you need to pay a penalty of Rs. 5 per day. So whether you are late or are looking to register for a new company our consultants at kanakkupillai are at your service to ensure you a hassle free registration process.
What are the Documents required for Professional Tax Registration?
- Proof of place business of the organisation
- Bank Statement of the business
- PAN and Residence Proof of Partners / Directors
- Cancelled Cheque For the Business
- Constitution proof of the business in case of Firm / Company
- GST Registration Certificate
What is the process for getting Professional Tax Registration?
Professional tax Registration Certificate:Once the registration application and the attached supporting documents are verified by the Officer, Registration Certificate is provided.