What is Maharashtra Profession Tax Act?
The Maharashtra State Tax on Profession, Trade, Callings and Employment Act, 1975 provides for levy and collection of Profession Tax. Under Maharashtra Profession Tax Act, every covered establishment is required to obtain PT Registration Certificate and PT Enrollment Certificate. SHORT TITLE, EXTENT AND COMMENCEMENT.
Is professional tax compulsory in Maharashtra?
Compliance under Maharashtra State Tax on Professions, Traders Callings and Employments Act 1975: Every employer not having employees, should only pay annual PT charges of Rs. 2500/- on or before 31st March every year.
Who is exempted from professional tax in Maharashtra?
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.
What is Ptrc and PTEC in professional tax?
PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate. Usually these Registration are required to conduct business in Maharashtra and in many other States.
Who exempted from PT?
The following individuals are exempt from paying professional tax: Parents or guardians of children with a mental disability or permanent disability. An individual suffering from a permanent physical disability including blindness. Any individual of above 65 years.
Who is liable to register under profession tax in Maharashtra?
Applicability of PTEC: Every person who is engaged in any profession (business or service) excluding that of Partnership firm or HUF is liable to pay a profession tax of Rs. 2,500/- p.a. with the government every year after the incorporation or commencement of business. (LLP and All Companies are covered)
What is the minimum number of employees for professional tax?
If an employer has employed more than 20 employees, he is required to make the payment within 15 days from the end of the month. However, if an employer has less than 20 employees, he is required to pay quarterly (i.e. by the 15th of next month from the end of the quarter).
What is the difference between PT enrollment and PT registration?
Such Employers are required to deduct Professional Tax as per existing Slab and deposit the same to the prescribed Authority. Thus, Registration is required in respect of Individuals employed, while Enrolment is required in relation to Business, Trade or Profession.
What is difference between EC and RC in professional tax?
What is RC and EC number in Professional Tax (PT)? RC and EC refer to Certificate of Registration and Certificate of Enrollment, respectively. Hence, the RC and EC numbers are unique numbers that are allotted by the State government.
Can I avoid professional tax?
Who is eligible for PT?
Individuals earning Rs. 10,000 or more per month are liable to pay the professional tax in Karnataka under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976. If you are a salaried individual having a salary more than Rs. 10,000 but less than Rs.
Who is exempted professional tax?
The following individuals are exempted to pay Professional Tax: Parents of children with permanent disability or mental disability. Members of the forces as defined in the Army Act, 1950, the Air Force Act, 1950 and the Navy Act, 1957 including members of auxiliary forces or reservists, serving in the state.
How many employees are required for PT registration in Maharashtra?
No. 2, who is paying salary or wages to one or more employee, wherein this salary or wages paid to anyone or more employees exceeds Rs. 5000/- per month, is liable for registration under Profession Tax Act.
What are the documents required for professional tax registration in Maharashtra?
Documents required for Professional tax in Maharashtra
- Pan of the assessee.
- Aadhaar Card copy.
- Cancelled Cheque.
- Passport size photo.
- Utility Bills such as Water or Electricity.
- Photo Signature.
- Information related to the business.
- Employees at Workplace.