Professional Tax Annual Filing
Every assessee ‘registered’ under the Act shall submit to the assessing authority, a return In Form V every month showing the salaries and wages paid by him and the amount of tax deducted by him from the salaries and wages.
The return shall be accompanied by a treasury challan/DD/Cheque/e-payment in proof of payment of the full amount of tax due on or before the 10th day of the month succeeding the month for which the return is to be filed by through online or manually before the concerned assessing authority.
Note: A person has to pay the professional tax annually.
Persons whose salary or wages does not exceed rupees one thousand per month, persons in Professions whose annual income does not exceed Rs.12000/- and traders whose total turnover in any year does not exceed rupees one lakh are exempt from the levy of Profession tax.
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