Statutory Compliances

We provide you exceptional statutory compliance services so that you can effectively record, maintain and comply with various statutory rules and regulations on time and as per required format including Income Tax & TDS, Sales & VAT Tax, Professional Tax Returns, PF & ESI Returns, Annual Financial Returns and Performance Returns. We have dedicated team of experts and proven experts and systems helping you generate many statutory reports including Balance Sheet and Income Statements as per Schedule VI, Financial Statement reports in user-defined format RG 23A Part I & II, RG 23C Part I&II, RG23D, Daily stock account, ER1 and ARE1 forms. We also help you extract data and generate reports from Sales register, Purchase Register, VAT Register, Service Tax Register, and TDS Register for meeting your regulatory requirements diligently.
At My Office Accountant we always see that various taxes are paid and returns are filled on time for all our clients. For this we give prior reminders before the due dates and shall help you at all the levels for complying with the requirements of Income Tax Act. We shall help you in computing the tax amounts, required to be paid monthly, quarterly or yearly. We shall also help in filing the returns and filling the same with the department. Our Services Cover:

Professional Tax Returns

Professional tax is a tax levied on professions and trades in India, which is determined and collected by the state governments. Just like the Income tax, it is compulsory tax to be paid by every member of employees of private companies. According to the Article 276 of the Constitution of India, "There shall be levied and collected a tax on professions, trades, callings and employments, in accordance with the provisions of this Act. Every person engaged in any profession, trade, calling or employment and falling under one or the other of the classes mentioned in the second column of the Schedule shall be liable to pay to the State Government tax at the rate mentioned against the class of such persons in the third column of the said Schedule. Provided that entry 23 in the Schedule shall apply only to such classes of persons as may be specified by the State Government by notification from time to time."

The maximum amount payable per annum towards professional tax is INR 2,500. The professional tax is usually a slab-amount based on the gross income of the professional. It is deducted from his income every month. In case of salaries or wages earned, to be deducted by the employer and has to be deposited with the state. Professional tax return needs to be filled every month by the employer.

Please be noted that the slab for professional tax varies across the states in India. We at My Office Accountant, help you effectively prepare and file professional taxes as per the respective state rules and regulations.