Professional Tax Registration

The enormous auxiliary tax structure executed in excess of 150 nations called the Goods and Service Tax arrangement uplifts the nation's monetary development. Despite the fact that it was presented in the year 2000 during Mr. Vajpayee's decision, Lok Sabha just passed the established alteration on sixth May 2015. Many were at alarm after the execution of GST. This comprehensive tax exacted on assembling, deal and usage of goods and services achieves standardization to the previously existing framework. Converging of both Central taxes – extract obligation and service tax and State tax – VAT, as one, supports India's situation in household and global markets. This will subsequently lessen the absolute tax load by 25-30% and permits dynamic cross-utilization of assets. Advantages of Saying YES to GST The then Finance Minister, Mr Arun Jaitley had stated, "GST is one of the most noteworthy TAX changes throughout the entire existence of India". Experts have cl...

Professional Tax is levied by state governments as a tax on profession, trade, calling or employment. In this blog, we will discuss about Professional tax registration and all other aspects of Professional tax registration in Karnataka . 1) What is Professional tax registration?   Professional tax registration is mandatory for all employers and professionals. Professional tax is a tax which is imposed on all the people who are earning salary or people who are practicing a profession such as a chartered accountant, company secretary, doctors etc. The owner of a business is responsible to deduct professional tax from the salaries of his/her employees and pay the amount so collected to the Government. Professional tax is levied by Municipal Corporations also the majority of the Indian States impose this tax. Professional tax is a source of revenue for the government. Professional tax is collected from individuals working in Government, Private and Non-government organizatio...