The Professional Tax is administered under the provisions of The Punjab Finance Act 1977 and the Punjab Proffesions and Trade Tax Rules 1977. This tax is levied and collected on/from the persons or class of persons engaged in a profession, trade, calling or employment in the Province of the Punjab.
For examples , Companies,lawyers, Doctors, etc
Modes of Professional Tax
1. Companies registered under Companies Ordinance, 1984
2. Factories as defined under the Factories Act,1932
3. Commercial Establishments other than the above said two categories
4. Importers and Exporters
5. Government Contractors
6. Government Builders
7. Government Property Developers
8. Service Providers
Motor Car Dealers
Motor Cycle Dealer
Hakeems or Ayuervedics
Member of Stock Exchange
Carriage of Goods and Passengers
Electronic goods Stores
Tobacco Whole Sellers
Taxing year is from 1st July to 30th June (Fiscal Year), under section 1 (3) of the Punjab Finance Act, 1977
Every person liable to pay the tax shall before the 31st day of August, in each calendar year, furnish to the District and Taxation Officer a statement giving his name, address, nature of his profession, trade calling or employment.
Crediting of amount
Every person shall credit the amount of the tax in the nearest treasury in Form P.R.T-2 or send the same to District Excise and Taxation Officer by postal order by a cheque on the State Bank of Pakistan, National Bank of Pakistan or any other bank having clearing accounts with either of these banks.
Deleting of Demand
If any person liable to pay tax discontinuous the trade, profession, employment or calling on the basis of which he is liable to pay the tax such person shall within 30 days of his discontinuing such trade, profession, employment or calling notify the fact to the District Excise and Taxation Officer, under section 10 of the Punjab Professions & Trade Tax Rules, 1977.