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Professional taxes have been asked to pay by employers and employees to government as it their major source of generating revenues to run the government machinery. Being a salary class person, I believe that each country have their own combination of the taxes to have income.
In our country, we are paying taxes on Provident Fund contributions, overall yearly salary to review against the tax slab (slabs for male and females) wealth tax are few examples. I think Hanna define it in much details as it from finance sector.
Professional tax is the tax charged by the state govt. It is based on profession,trade,employment (income from salary).for example.chartered accountant,lower.doctor etc are pay the professional tax.
The Other Taxes like Income from salary, Income from house property, income from business profession, income from from long term & short term gapital gain & income from other sources are deducted from employee salary.
The provsion of the computation of income different head as income tax slab and state govt.
Professional tax is a tax charged on professionals' salaries by govenments. Tax withheld for the salaries of prfesionals such as doctors, lawyers, accountants and others should be forwarded to the government within a specified time period. Other taxes imposed on salaries are considered withholdings to be dealt with in the same manner. In some countries, the profesional tax does not exist.
The tax paid by the individuals like Mangers/Directors against their monthly/annual salary or earnings. FBR set the tax deduction rates while tax deduction manuals and policies are also available.
Yes Dear Saneela Jadoon , there are two kinds of FBR Taxes ,one is called service tax and second is called profesional tax, the the servicess taxes will be deducted from the comapnies which is working as services providers and professional taxes will be deducted by the account of professionals salaries those are working like Doctors , Engineers,consultants and like others professionals.ok
