What is Professional Tax?
Professional tax is a tax levied by state governments in India on individuals and entities earning income from professions, trades, or employment. It is a source of revenue for state governments and is governed by state-specific laws. The tax is applicable to both salaried employees and self-employed individuals, and it is deducted from salaries by employers or paid directly by self-employed professionals. Professional Tax Applicability: Professional Tax is applicable for the below-mentioned individuals and entities: Companies Firms LLPs Corporation Societies HUF Associations Clubs Legal practitioners such as solicitors Contractors Architects Engineers … Read More