Professional Tax Registration
Professional Tax is a tax collected by State Governments from the professionally occupied business entities. A person earning income from salary or professions such as Chartered Accountants, Company Secretaries, Lawyers, etc. is required to pay professional tax. This tax is deducted from the salary of the employer, which is later eligible for deduction from the computation of taxable income. Further, there are two types of registrations being – PTEC and PTRC registrations. Professional tax is imposed at the state level in India. Different states have different rates and methods of collection.