Professional tax is the tax levied by the state government on all the salaried individuals working in government or non-government entities or practicing professionals like C.A., Law, Medicine, Consultant, Technician, etc. or carrying out any other form of business. Professional tax is deducted from the salary of the employees and the same is deposited with the state government. Different states have different rates and methods of collection. It is levied based on the individual’s employment, trade or profession.the employers deduct the professional tax from the salary of the employees, and the same is deposited with the state government. The tax rates differ across all states however, the maximum amount that can be levied as Professional tax is Rs. 2500 per annum.
Professional Tax registration is mandatory within 30 days of employing staff in a business or, in case of professionals carrying out some form of business within 30 days from the start of the business. We, the team of Touch Millions , are available to help you with the Professional Tax Registration.
The PAN regsitration serves as a valid identity proof like other proofs such as voter cards, aadhar card, etc. it is accepted by many government and financial institutions as identity proof.
Every company registration regardless of being public or private are required to open a bank account in the name of the company for which submission of a PAN card is mandatory. Also under the government’s Jan Dhan Yojana, a person having a PAN card can open a zero balance account.
Every person who is eligible to pay income tax is supposed to file income tax returns and for that such person is an artificial entity has to obtain the respective PAN registration.
Any person who is depositing cash exceeding Rs. 50,000 with the bank or any post office department or for purchasing any bank drafts or pay order is required to submit PAN registration details mandatorily with the respective institution. For the sale of any immovable property valuing above fifty lakhs is required to have a PAN card.
Data is new fuel which make it most important asset for the business house. Strict policy within our organisation is to ensure no compromise on data confidentiality and data is not shared with the third party. Your information is safe with us.
Our team consists of CA's, Lawyers, CS, IIM, graduate, Actuaries and other supporting staff to make sure you get best services. With 10+ years of experience, our experts uses flexible and customized solutions to provide hassle-free services to any industries.
Touch Millions has ISO 9001:2015 certifcation in place. We continuously improve our existing process and try to find new ways for doing the same tasks. We are committed to reduce the time taken to process any task and give unquie experience to our customers.
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