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Professional tax is a state level tax which is imposed on income earned by way of profession, trade or employment. The tax is based on slabs depending upon income of individual who may be self employed or working as employee of an entity.
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Periodicity of PTEC Compliance
There are no returns associated with PTEC ; however, yearly payment need to be made for which details of registration viz Registration Certificate should be provided.
Payment be made yearly, on or before 30th June.
Periodicity of PTRC Return Filing
Monthly Returns to be filed before the end of month in which salary is paid. Monthly returns are to be filed in following cases :
For the year in which PTRC registration is obtained and/or
Previous year’s tax liability was more than Rs. 50,000
Return to be filed annually on or before 31st March, if above conditions are not satisfied.
Fines & Penalties against default in PTRC Return Filing
Interest liability @ 1.25% per month in case of arrears of taxes
Late filing fees of Rs. 1000 for delay in return filing
Penalty of 10% will apply in case of late payment of professional tax dues
Details Required for PTRC Return Filing
PTRC Registration Certificate and login details
Details of employees and their salaries (On monthly basis)
Details of previous tax payments and returns filed (if any)
FAQ on Professional Tax Return Filing
Q. Can amount paid as professional tax be claimed as refund ?
No, professional tax is non refundable in nature except where excess payment over and above the actual liability.
Q. What will be the contribution period in case of new employee ?
Where new employee joins organisation, his/her contribution towards professional tax be made from the month of joining irrespective of minimum yearly contribution of Rs. 2500
Q. What will be the contribution period in case employee leaving organisation?
In case employee leaving organisation, monthly contribution be made till the month of exit only.
Q. Does employee is allotted with different identification number under PTRC ?
No, employer has to maintain payroll on the basis of which contribution is deposited. Individual employee is not registered with Professional Tax department.
Q. Does employer need to deduct and pay professional tax for those employees who are employed & working outside Maharashtra ?
No, only those employees who are drawing regular salaries/wages and working in Maharashtra are liable for professional tax in Maharashtra.
Q. What added benefits are provided under professional tax ?
There are no added benefits for employees as well as employers with regard to professional tax.
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