Penalty on non-payment of profession tax within prescribed t

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2013 Hello Everyone,

I have employed with one of the Pvt.Ltd.Co. We have done registration of one of our Co. in November'2012 and have failed to make Profession tax payment.
My query is if we are making an payment now how much penalty will be imposed and how it should be calculated? Our previous year tax liablity is below Rs.50,000/p.a.

Please advice.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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06 September 2013 PROFESSION TAX ACT, 1975 - Maharashtra

Penalty for "Non-payment or late payment of tax." by Enrollee/Employer (Sec. 10)

The authority may impose a penalty equal to 10% of the tax due.

Interest on late payment of tax. (Sec. 9)

The interest for late payment of tax or any additional demand of tax raised in assessment is 1.25% p.m. with effect from 1-7-2004 (2% p.m. up to 30-6-2004.)

Note:
The Rate of Interest and Penalty may be differ according to States..