[30 Min Live Discussion with Experts] on ‘Professional Tax in India’; 3:30 to 4:00PM, September 23rd, 2022

Hello Community Members,

Hope you are doing well.

It gives us immense pleasure to announce our next Greytribe live session, being conducted on September 23rd, Friday at 3:30PM to 4:00PM.

This time, there will be an exclusive 30 minutes of LIVE discussion thread with the Expert CA Shubham Goel, Co-founder and Partner, ByTheBook Consulting LLP on the topic ‘Professional Tax in India’.

Requesting members to post your doubts/queries related to Professional Tax as comments on this post and get them answered by the Industry Expert on September 23rd, 2022.

We thank each one of you for your continuous support and enthusiasm that you bring to the LIVE community session. Your support motivates us and we strive harder every time to come up with new, exciting and informative sessions. Much appreciated.

Community Manager.

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Hello Community Members,

Hope you are doing well.

Join the upcoming Greytribe live session on ‘Professional Tax in India’ and get all your queries answered by our expert CA Shubham Goel, Co-founder and Partner, ByTheBook Consulting LLP at 3:30pm to 4:00pm on Friday, September 23rd.

#greytHR #Greytribe #GreytribeLive #LiveSession #ProfessionalTax

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Dear Sir,

How can i join this session. Please let me know

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Hey @DST77,

Hope you are doing well.

Just come and join the same post on 23rd sept at 3.30pm and type your queries here. Our expert will answer your queries. You can also post your queries in advance here and our expert will pick them first.

Do let me know in case of any concerns.

Regards,

Community Manager.

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Let’s welcome today’s expert for the session, CA Shubham Goel, Co-founder and Partner, ByTheBook Consulting LLP.

Mr. Shubham Goel is one of the most sought out experts in this domain. He is a qualified Chartered Accountant with more than 7 years of big 4 experience in handling tax compliance, advisory and litigation matters.

He is also the Co-founder & Partner at ByTheBook Consulting LLP. He has extensive knowledge in handling global engagements requiring proactive support and handling complex compliance issues. He has been involved in servicing several high net worth individuals on their return filings and litigation issues at various appellate levels.

We are thankful to him for joining our session today as the expert to share his views, expertise, thoughts and knowledge.

Once again, a very warm welcome to you Mr. Shubham.

We also open the session for questions after this post.

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Thanks Kaulin for the introduction. I look forward to address the queries on Professional Tax.

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What is Professional Tax?

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Professional tax is a tax on all kinds of professions, trades, and employment and levied based on the income of such profession, trade and employment. It is levied on employees, a person carrying on business including freelancers, professionals, etc., subject to income exceeding the monetary threshold if any.

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Please let us know on whom Professional Tax is applicable?

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Professional Tax is applicable on following:

a) In case of employees, an employer is a person responsible to deduct and pay professional tax to the State Government subject to the monetary threshold if any provided by respective State’s legislation.
b) An employer (corporates, partnership firms, sole proprietorship etc) also being a person carrying on trade/profession is also required to pay professional tax on his trade/profession again subject to the monetary threshold if any provided by respective State’s legislation.
c) Persons who are carrying on freelancing business without any employees subject to the monetary threshold if any, provided by the respective State’s legislation.

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What is the difference between Income Tax and Professional Tax?

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The significant difference is in the receiver of these two different taxes. The central government receives income tax, and the state government gets the professional tax.

The Professional Tax is levied by certain states and Union Territories subject to monetary threshold limit. Whereas Income Tax is levied on the entire country as per the nature of assessee and applicable income slab rates.

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Which states and UTs impose Professional Tax and what is the range of PT rates applicable in different states and UTs?

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Following states and UTs impose Professional Tax:

  1. Andhra Pradesh
  2. Karnataka
  3. Maharashtra
  4. Tamil Nadu
  5. Assam
  6. Kerala
  7. Meghalaya
  8. Tripura
  9. Bihar
  10. Jharkhand
  11. Madhya Pradesh
  12. West Bengal
  13. Manipur
  14. Mizoram
  15. Odisha
  16. Puducherry
  17. Sikkim
  18. Telangana
  19. Nagaland
  20. Gujarat
  21. Punjab

The range of professional tax varies from state to state. The range varies from INR 250 – INR 1,250 (Puducherry) to INR 2,100 – INR 2,500 (Maharashtra).

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Why does Professional Tax differ for each state?

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It varies from state to state because it is a state-imposed tax. Professional tax is deducted according to the slabs established by each state and union territory.

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What is the maximum Professional Tax amount?

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The upper limit has been set to INR 2,500 per annum per individual. It is the maximum amount of professional tax a State Government or UT can levy.

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What is the procedure to pay Professional Tax?

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Professional tax is a state subject. There is no fixed procedure to pay professional tax. It can be paid either online or offline modes depending on the state from where the business is operating. Also, the intervals and procedure for filing professional tax returns depend on the State or UT.

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