What is professional tax?How to pay through online?
Professional Tax
Profession tax the
tax by the state governments in India. Anyone earning an income from salary or anyone
practicing a profession such as chartered accountant, company secretary,
lawyer, doctor etc. are required to pay this professional tax. Different states
have different rates and methods of collection. In India, profession tax is
imposed evel. However, not all states impose this tax.
The states which impose
professional tax are Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, TamilNadu, Gujarat, Assam, Kerala, Meghalaya, Odisha,Tripura,Madhya Pradesh, and Sikkim. Business owners, working
individuals, merchants and people carrying out various occupations come under
the purview of this tax.
Profession tax is levied
by particular Municipal Corporations and majority of the Indian states impose
this duty. It is a source of revenue for the government. The maximum amount
payable per year is INR 2,500 and in line with tax payer's salary, there are
predetermined slabs.[1] It
is also payable by members of staff employed in private companies. It is
deduced by the employer every month and sent to the Municipal Corporation. It
is mandatory to pay professional tax. The tax payer is eligible for income tax
deduction for this payment.
For Karnataka state
Professional Tax is Rs.200/-(Who are having more than Rs.15000/- Salary per
month)Different State has different slab rate.
In case of non/late payment of profession tax, penalty will be 10% of the amount of tax. In case of late filing of returns, a penalty of Rs. 1000 per return will be imposed if you filed after due date in 1 month. after 1 month, penalty should be rs. 2000 will be imposed
How to pay PT through online?(For Karnataka State)
Refer below link for pdf.
https://drive.google.com/file/d/12b2m6iK7BzUShOscFDHbRwdhSYFK0yKm/view?usp=sharing
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