Profession tax is the tax levied and collected by the state governments in India. It is a indirect tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this professional tax.
Steps for Online Filing Professional Tax Return in Maharashtra
Step 1: First download the Form III-(B) . Click here to Download the Form III-(B).
Step 2: When form downloaded then open the form by double click on form.
Step 3: Then fill the necessary details like Professional Tax registration certificate no., Location, Period etc. More information relating to fill the Form III-(B) is explain in the below paragraphs.
Step 4: After filling the necessary details the Form automatically calculates the Professional Tax amount. Deposit the same amount to the Government by challan MTR-6 or make E-payment.
Step 5: After Payment fill the details relating to challan at the end of Form.
Step 6: After Filling the all information Click on Press to validate to Validate the form. It will generated XML file.
Step 7: Now go to MVAT site & make login & upload the XML file. After uploading an acknowledgement will be generated.
Income tax is a direct tax collected by the central government from all taxpayers. It is charged on a certain percentage of their income. Whereas, professional tax is an indirect tax collected by the state government. It is charged based on a slab for people engaged in business, occupation, or employment.
Each Indian state prescribes its slab for professional tax. For example: In Maharashtra, if your monthly income is between Rs.7,500 to Rs.10,000, then the professional tax levied is Rs.175. Similarly, for monthly incomes above Rs.10,001, the tax levied is Rs.200 for 11 months and Rs.300 on the 12th month. Finally, when the monthly salary is less than Rs.7500, there is no professional tax imposed.
Any employer in particular states must deduct taxes from the employees if the salary paid exceeds the minimum slab limit and deposit with the government. That entity is required to get a registration certificate.
Once the payment has been made, download the payment acknowledgement receipt. The receipt indicates that the payment has been made successfully.