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PROFESSION TAX RETURN (MAHARASHTRA)
Starting @1499
What is PTEC & PTRC??
PTEC: It is to be obtained by every person (excluding Partnership firm or HUF) who are engaged in their own business after the incorporation or commencement of business. For eg. Professional practitioners like CAs, Doctors, etc.
PTRC: It is to be obtained by every person who is liable to deduct profession tax of any employee whose monthly salary is above Rs.7500.
TO WHOM IT IS APPLICABLE?
- Individuals
- Sole proprietorship
- Partnership firm
- Company
- HUF
DOCUMENTS REQUIRED
- Salary details
- Gender of the employee
- Term period of the employee
- Challan details
WHEN TO FILE THE RETURN?
| Profession tax liability | Due Date | |
| a) | If tax liability during the previous year or part thereof was less than ₹ 50,000 | Annual Return on or before 31st March of the year (for salary paid for the months from 1st March to 28th February) |
| b) | ₹ 50,000 or more | Monthly Returns on or before the last day of the month (covering salary paid for the preceding month) |
FAQs
Senior citizens above the age of 65 and handicapped persons with more than 40 % disability and parent of a physically disabled and mentally retarded children are exempted from paying professional tax in Maharashtra.
Up to Rs.7500 | Nil |
Rs.7501-Rs.10000 | Rs.175 |
Above Rs.10000 | 2,500 p.a. The payment is accepted in the following method: · Rs.200 per month except for the month of February. · Rs.300 for the month of February. |
Yes, revised professional tax return can be filed in Maharashtra if any omission or incorrect statement has been furnished.
Return can be revised at any time before a notice for assessment is served or before the expiry of a period of six months from the end of the year for which the return was due.
Yes, they all are eligible for enrolment certificate.
Yes, there is a facility of making lump sum payments for Enrolment Certificate holder who is liable to pay tax at the rate of Rupees 2500 per annum.
The Enrolment Certificate holder can discharge his liability for the next five years by making payment in advance of a lump sum amount equal to four times of such rate of tax on or before 30th June, so advantage in paying lump sum is that of, saving of one year’s liability.