Sushmita (CA-Final(Intern)) (262 Points)
26 August 2011Hello all,
Please tell me when does a co. or a firm become liable to pay or make provision for payment of Proffesional Tax.
As i am doing maintaining accounts of one of our client, so this question strikes me as in audit we generally see profeesional tax.
Please reply as soon as possible.
Thanks a lot in advance.
CS Bijoy
(Expert)
(6394 Points)
Replied 31 August 2011
All registered partnership firms, all factory owners, all shops or establishment owners (if the shop has employed on an average five employees per day during the year), all businesses covered under the definition of ‘dealer’ defined in the Gujarat Value Added Tax Act, 2003 whose annual turnover is more than Rs. 2.50 lakhs, is liable for P tax.
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