123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> General >> View Article

Professional Taxes And Their Applications

Profile Picture
By Author: Manishanil Gupta
Total Articles: 19
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Any working professional in a well versed world like today is aware of taxes they have to pay. While we are all aware of the taxes that are deducted from our salary, have you ever thought what they actually are? These are professional taxes and differ from income tax. These form a vital aspect of your tax deductions and understanding them is important. A tax audit firm in Delhi can help you with filing a return easily and make you understand these deductions too.

What are professional taxes?

These are taxes levied by state government on your salary.
These deductions can be identified on your monthly salary slip. It is a source of revenue for the government, and used for the betterment of employment sector in that state. While there are some exemptions to these taxes, they are mostly mandatory to be deducted from the salary. It is important to note that the maximum tax cannot be more than INR2500 annually.

Who gets an exemption from professional taxes?

The government of India has offered the following deductions to professional taxes. If you are unsure of these deductions, you can take help of tax consultants in Delhi. They are experienced in taxes and can offer you unsolicited advice.

Exemptions:

1. Parents and guardians of mentally disabled children

2. Parents and guardians of permanently disabled children

3. Members of Armed Forces serving in the state

4. Female members of Mahila Pradhan Kshetriya Bachat Yojana

How do tax auditor in Delhi calculate professional taxes?

1. To calculate professional tax, first you need to consider if the same is applicable in your state or not.

2. Take a look at the tax slab of your state and find your tax amount.

3. Check how much tax is deductible from your salary per month or per year.

4. There are various professional tax calculators online that can also be useful.

It is important to calculate your taxes well in advance. This makes you more prepared and avoids last minute hassles. Delaying tax preparations to last minute is a common reason for mistakes in taxes. Do not forget to hire a tax audit firm in Delhi to help you calculate these taxes and ensure that you do not miss due date.

Call to action:

www.manishanilgupta.com are one of the best tax and gst consultants in Delhi. They have a team of experts who will help you sail through the process easily.

Source: http://prsync.com/manishanil-gupta/professional-taxes-and-their-applications-3120526/

Total Views: 50Word Count: 399See All articles From Author

Add Comment

General Articles

1. 3 Things To Keep In Mind When Working On Your Ecommerce Seo
Author: Dan Kogan

2. 6 Ways To Make Earn Money Online 2020
Author: Manish Malviya

3. Best Web Designing Company With Innovative Ideas | Prodigit
Author: Vamsi

4. Pitbull Lab Mix - Is A Labrador Pitbull Mix Right For You?
Author: 5amily Ltd

5. Refine Your Personal Aesthetic With Gabriel And Company Earrings
Author: Lisa Alfieri

6. The Unique Advantages Of Attribute-based Authentication
Author: Appsian

7. Start Transforming Your Life Bringing In The True Success
Author: Mindful Guides

8. Self Growth Programs Come Up As The Ultimate Way To Get Rid Of The Difficulties In Life
Author: Mindful Guides

9. Deepen Your Insight With The Anger Management Programs
Author: Mindful Guides

10. Meditation Brings In The Ultimate Peace Improving The Way Of Life
Author: Mindful Guides

11. Empower Yourself Retreat Helps In Learning The Ways To Control Anger
Author: Mindful Guides

12. Astrology Remedies To Overcome Depression:
Author: Durga Matha Astrologers

13. Sell Apple Laptops Online With This Simple Method
Author: Amato Cole

14. What Should Be Considered When Buying Sunrooms?
Author: Bks Cam Balkon

15. Personalised Religious Gifts To Get For A Catholic Baptism
Author: Sadie Halligan

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: