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PT Returns
Professional Tax is a state-level tax imposed on individuals earning income from professions, trades, or employment.
PT Returns
Professional tax is a levy imposed by state governments on various professions, trades, and employment, based on the income earned from these activities.
It applies to employees, business owners, freelancers, and professionals, among others, provided their income exceeds a specified threshold.
Unlocking Growth Potential with a PT Returns
Constitutional Framework
As per Article 246 of the Indian Constitution, Parliament has exclusive authority to legislate on taxes on income, included in the Union List. States, however, can make laws related to taxes on professions, trades, callings, and employment, under the Concurrent and State Lists. Professional tax falls within this category, as outlined in Article 276 of the Constitution.
State-Level Legislation
Professional tax is enforced by state governments, although not all states in India choose to levy it. State governments have the authority to enact laws governing professional tax, which is considered a tax on income.
Tax Deductibility:
Professional tax is considered a deductible expense under the Income Tax Act, 1961. This means that the amount paid as professional tax can be deducted from the taxable income of the individual or entity, thereby reducing their overall tax liability.
Why Choose Sandeep Nalla And CO. for Your PT Returns
PT returns are periodic filings required by employers to report professional tax deductions made from employee salaries and remit the collected tax to the appropriate state authority. Compliance with PT return filing obligations ensures adherence to state tax laws and avoids penalties.
Professional tax rate slabs in Telangana
Monthly salary/wage up to Rs 15,000 | NIL |
Monthly salary/wage between Rs 15,000 – Rs 20,000 | Rs 150 per month |
Monthly salary/wage > Rs 20,000 | Rs 200 per month |
Embracing the PT Returns Advantage
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