Professional Tax Registration Services in Mumbai Thane
What is professional tax Maharashtra?
The name implies, professional tax is a tax, that is charge by the state on business, trade, calling or employment income. This tax is based on slab rates based on an individual's income. This is similar to the income tax, with the only difference being that the income tax is collected by the central government while the professional tax is collected by the state government. The maximum tax is to be charged Rs.2500.
Documents are required For PT Registration
- PAN card.
- Aadhar card copy.
- Data of the Audit plan
- Canceled cheque.
- Passport size photo.
- Electricity bill of a Registration office/place of business in case of the rented property then rent agreement.
- Photo signature.
- Details of business.
- Number of employees at the workplace.
- Commencement Of business date.
- Email ID & phone number.
These documents are required for PT Registration, For further guidance, Aga & Associates is there to assist you.
Professional Tax Registration FAQ
The rate for PF contribution is 12% by the employee and 12% by the employer.
The interest on PF is tax free only after five years if you keep your EPF investment intact till retirement what you get on retirement is completely exempt from tax but interest earned on EPF after employment is taxable.
Out of 12% the 8.33% of employers contribution is diverted to the EPS or pension scheme and remaining 3.67% is invested in EPF.