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Regarding professional tax

sadiq (articled assistant) (27 Points)

29 March 2016

Sir/Mam, I wanted to ask that what is the differences b/w PTEC & PTRC in Maharashtra State(Mumbai). Also, please tell me the returns which are required to be filed under Maharashtra State's Tax on Professionals. Thanks

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ANAND (CA) (133 Points)
Replied 29 March 2016

PTEC is usually for an individual or a company

PTRC is for any concern which has employees be it proprietor/ firm etc

Prof tax returns ie PTRC are usually filed anually but if u enrol for first year its monthly

For PTEC just payment is required no returns

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sadiq (articled assistant) (27 Points)
Replied 29 March 2016

Thanks a lot,

but in that case, if one registers himself in the middle of the year say, December then does he requires to file return for the previous months & also does he requries to pay prof tax for the prior months (i.e. before Nov).

Moreover, does interest & late filing penalty required to be paid?

Please do help on that too.

ANAND (CA) (133 Points)
Replied 29 March 2016

Suppose you already had a business then you may pay for max 5 years with penalty if you havent registered. U need to pay PT from the day u have employee's. Yes interest penalty is to be paid. For the first time registration u need to file monthly and also pay tax monthly

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