How To File Income Tax Return With Taxgoal

With Taxgoal You can file your income tax return in simple steps.

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PROFESSIONAL TAX REGISTRATION

Opt this plan to obtain Professional Tax Registration for your business

What is Professional Tax?

Profession Tax is a tax which is levied by the state on the income earned by way of profession, trade calling or employment. This tax is levied based on slab rates depending on the income of the individual. This slab rate is decided by the state government; hence, it varies from state to state. Any amount paid as Profession Tax to the state government is allowed as a deduction under Section 16 of the Income Tax Act.

Services Covered

  • Filing of application for Professional Tax registration
  • Preparing of necessary documents
  • Follow up till you obtain your Professional Tax registration certificate

For Whom this plan is?

  • Every self employed professional
  • Any entity employing one or more employees

Documents Required

  • Certificate of Incorporation, MOA & AOA / LLP Agreement.
  • PAN card of Company/LLP duly attested by directors of the company
  • Premises proof of Company and an NOC from the owner of such premises
  • Bank Account of Company: Cancelled cheque and bank statement.
  • List of Directors, passport size Photographs of all Directors, Id and address proof.
  • Board Resolution or consent statement of partners
  • Attendance Register & Salary Register
  • Any other document as required

Frequently asked questions

Registration: All the employees whose monthly remuneration is between 15001/- and 20,000/- per month is 150/- (per month) 20001-and above Rs: 200/- Per month is deductable from a person employed on salary or wages and includes:- an employee of the Central Government or any State Government to whom the salary is paid either from the consolidated Fund of India or of a State; a person in the service of a body, whether incorporated or not, which is owned or controlled by the Central Government or any State Government where the body operates in any part of the State, even though its headquarters may be situated outside the State, the maximum limit of profession tax per an individual is Rs: 2500/-

Yes, all registered employers are required to file return. Returns are annual (to be filed in the month of April for the preceding year or part-thereof) for the financial year 2014-15 onwards. Profession Tax return to be filed in two stages (a) Electronically: to know the procedure, you will have to consult www.wbcomtax.nic.in > Profession Tax > User Manual for e-return. (b) Submission of signed hard copy (and acknowledgement slip) to the concerned Profession Tax authority, within stipulated time. Late submission of return attracts late fees @ Rs 200/- for the first month of default and @ Rs 100/- for each subsequent month of default or part there-of.

The owner of a business is responsible to deduct professional tax from the salaries of his employees and pay the amount so collected to the appropriate government department. He/she has to furnish a return to the tax department in the prescribed form within the specified time limit.

Delays in obtaining Registration Certificate, a penalty of Rs. 5/- per day. 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, a penalty of Rs. 2000 will be imposed.

The states which impose professional tax are Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Tamil Nadu, Gujarat, Assam, Kerala, Meghalaya, Odisha, Tripura, Madhya Pradesh, and Sikkim.

The Enrollment Certificate holder can discharge his liability for the next five years by making payment in advance of a lump sum amount equal to four times of such rate of tax on or before 30th June, so advantage in paying lump sum is that of, saving of one year’s liability.

Overview
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For Whom
Documents Required
FAQ's

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