Meaning & Applicability Of Professional Tax In India (PTEC)

Adambrown27508 Oct, 2021Business

Professional Tax was introduced in the year 1949 via powers given to the States by the way of Clause (2) of Article 276 of The Constitution of India. It is levied on all the Income earned by the way of profession, trade, calling and employment. Professional Tax happens to be a source of revenue for the State Government and its collection helps them in implementing welfare schemes for the overall growth and development of the respective state.