Professional tax in India June 20, 2019

by | Jun 20, 2019

Professional tax is a direct tax levied by the State Governments in India. A salary earning person or a professional such as chartered accountant, lawyer, doctor etc. is required to pay such tax. Each State has its own mechanism for levy and collection of professional tax. Generally, such taxes are payable on a monthly basis. Professional tax is collected by the State Commercial Tax Department which transfers the amount to fund of municipality corporations. The ambit of professional tax extends to all type of companies, partnership firms, sole proprietor carrying on any profession, trade, calling or employment in India. Professional tax deducted from an employee’s salary, is also exempt from its Income Tax liability.

To Read More, Please click on the below mentioned link:

NITYA_s Insight l Issue 30 l Professional tax in India