Udyogwardini | Professional Tax Registration

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Professional Tax is similar to income tax, except that it is levied by the state government. However, contrary to what its name implies, it is not exclusive to professionals. It is a tax on all professions, trades, and employment that is levied on the basis of the income generated by the profession, trade, or job. It is imposed on employees, self-employed individuals, freelancers, and professionals, and others who earn more than the applicable monetary level.

Advantages to registering as a professional taxpayer

Many states have made it essential for companies to obtain a Professional Tax Certificate in order to deduct and pay service tax from employees' salaries. It provides a slew of advantages, including:

  • Professional Tax laws are simple to follow and can be completed quickly with Udyogwardhini.
  • Employees can claim deductions depending on the amount paid for Professional Tax under Section 16 of the Income Tax Act of 1995. The deductions must be claimed in the tax year in which the payment was paid.
  • Because it is a legal obligation, failure to register for Professional Tax can result in fines and penalties, which may escalate over time.
  • Professional tax is a source of revenue for state governments that aids in the implementation of a variety of welfare and development programs in the region.

Documents are required for professional tax registration:

Documents are required for professional tax registration:

Certificate of Incorporation such as AOA, MOA or LLP Agreement

Company bank account information, including a bank statement and a cancelled check

PAN Card of the Company/LLP attested by the Company's Director

Proof of Registered Office and a NOC from the premise owner

Certificate of Shop & Establishment

Board Resolution or Declaration of Consent by the concerned Partner

Address proof, PAN card, and passport size pictures with signatures of all Directors

Salary and attendance register