prakash r sahane (proprietor) (71 Points)
30 September 2016we are charitable trust registered under the Bombay Public Trusts Act.we are runnung schools and also providing school Bus services to the students along with other charitable objects.We want to know whether we are liable to obtain PTEC registration and payment of tax under the Maharahstra profession tax Act
Atul Thakar
(7 Points)
Replied 30 March 2020
It is surprising that not a single CA has expressed a learned opinion on this query since 2016.
Pradeep N. Kasarikar-Patil
(EPF ESI & Tax Consultant )
(4 Points)
Replied 21 June 2023
DEAR ALL,
As per PROFESSION TAX ACT, 1975, PTEC Applicable to,-
1. Every Person (Excluding Partnership Firm & HUF).
2. And Engaged actively or otherwise in any profession, trade, calling or Employment.
3. And Covered by Schedule I appended to the Profession Tax Act, 1975.
Therefore, PTEC is applicable if above all 3 conditions are fulfilled.
Charitable trust is covered under above point No. 1, but not covered under point No. 2 , therefore charitable Trust is not liable to pay PTEC Tax.
However if any charitable Trust is engaged in any profession, trade, calling or Employment, then such a charitable Trust is liable to pay PTEC Tax
For More information,
Contact,
Pradeep
CAclubindia
