Hi,
We have a private limited company and the company has failed to pay its annual Professional Tax of Rs.2,500/- which is outstanding since FY 2015-2016.
We would like to know the provisions related to interest and penalty on the same and what will be the exact amount payable by the company as on today ??
In west bengal if an employer or enrolled person fails to pay tax as required under the law, he will be liable to pay simple interest @ 2% per month or part thereof on the amount due up to 31.3.
While the actual amount of penalty or penal interest may depend on the respective State’s legislation, a penalty may be levied by all such states for not registering once professional tax legislation becomes applicable. Further, there are also penalties for not making the payment within due date and also failing to file the return within the specified due date.
For example: In the State of Maharashtra Rs 5/day is imposed as a penalty for delay in registration, Interest @ 1.25% per month of delay in payment, a penalty of 10% of the amount of tax in case of delay/non payment of professional tax, Rs 1000 – Rs 2000 penalty for delay in filing the return
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