Professional tax in India is subjected to different states. It is the infrastructure a state provides to let you work in that state. It is different in different states and there is a penalty for breaching around the professional tax. Since it varies from state to state, you must be aware of the prevailing rate in your particular state especially if you are an independent professional to avoid penalties. So, to make your tax process stress free we offer a strong network of professionals that can assist you with business services, payroll and bookkeeping, real estate loans, life insurance, etc.
1. Who is liable to pay Profession Tax in the State of Maharashtra?
Any person who is engaged in any profession, Trade, callings and employment is liable to pay Profession Tax. A person includes Hindu undivided family, firm, company, corporation or other corporate body, any society, club or association.
2. Does professional tax has slabs?
Professional Tax calculation is based on predetermined slabs and the basis of the salary or monthly income levels. It is usually around Rs 200 a month, with the maximum payable in a year being Rs 2,500.
3. Is professional tax mandatory?
It is mandatory to pay professional tax. The taxpayer is eligible for an income tax deduction for this payment.