All You Need to Know to Start a Matrimony Business in India
08 Feb, 2023
Professional Tax is being imposed by all the State Govt. on every paid individual. The P-Tax is inflicted based on the profession, trade, or employment of the individual taxpayer. The tax rates also vary according to the various State Governments but the highest amount of payable P-Tax is INR 2000 per annum. Till now, states like Maharashtra, Karnataka, Gujarat, Kerala, West Bengal, Assam, Madhya Pradesh, Orissa, Tripura, and Meghalaya are charging this particular tax.
Profession Tax Registration Certificate (PTRC):
PTRC is Professional Tax Registration Certificate. PTRC has to be obtained by an employer to deduct and deposit the professional tax from employees’ salary. Persons earning salary or wages are also covered under this registration certificate. The employer (government or non-government) has to deduct professional tax at prescribed rates from the employee’s salary and deposit the same to the respective state government. It falls under the employer’s responsibility to pay the professional tax even if it fails to deduct the same from the wages or salaries of the employees.
A fully functional business entity usually requires both PTEC and PTRC to conduct its business operations.
Applicability of PTRC
This certificate is to be obtained by every person or employer who is liable to deduct profession tax from the salary or wage of any employee whose monthly salary is above Rs. 7,500/-.
Documents Required for PTRC
The following are the list of documents and details required for registration of PTRC:
Registration & Filling of PTEC and PTRC is Mandatory for:
Who are exempted from paying Professional Tax?
Steps for PTRC Registration:
How can we help you?
Online Legal India TM helps you to get PTRC online without any hassle and at menial charges. The tax experts from our end coordinate with you at every step and guide you to get the PTRC according to your need.