This deduction is carried out based on a pre-determined TDS slab. Tax Deducted at Source (TDS) is the amount deducted from your employer's earnings or the person making payments to you. Difference between professional tax and TDSÄ«efore understanding the nuances of professional tax independently, it is important to distinguish it from another commonly mistaken parameter, TDS. The amount will vary as per your earnings. In that case, you will have to pay professional tax to the state government of the place in India where you have your practice. Suppose you are a chartered accountant, lawyer, doctor, or any other practising professional in India. This amount accounts for your professional tax, which your employer pays to the state government on your behalf. You'll learn that your employer deducts a small amount every month based on your income month along with other regular deductions. If you are a salaried employee, take a closer look at your salary slip or inquire with your organisation's HR personnel. Here is an in-depth look at professional tax. However, the percentage of deduction differs along with states in India, and your final professional tax amount is likely to vary based on this. Every professional has to pay this tax to their respective state governments based on their earnings. Drawing a regular income in the form of a salary or professional fees for your services requires you to pay a professional tax.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |