Professional tax is the tax levied by the state governments on the income earned by way of trade, profession, calling or employment.
In Maharashtra, different slabs are mentioned for different class of individuals. Professional tax is required to be paid at fixed rate irrespective of the turnover or the income of individual. For majority of classes the rate of Professional tax is now Rs. 2,500 every year.
In case of salary and wage earners, such Professional tax is paid by the employer after obtaining PTRC registration. Slab of Professional tax on salary and wages:
|Monthly Salary||Amount of Professional tax payable|
|Less than Rs. 7,500 p.m.||Nil|
|Rs. 7,501 to Rs. 10,000||Rs. 175 p.m.|
|Rs. 10,000 and above||Rs. 200 p.m. (Rs. 300 for Feb)|
In case individuals having PTEC no., payment of annual Professional Tax has to be made before 30th of June of the financial year.
While employer having PTRC and deducting Professional Tax from salary may make payments annually or monthly depending upon the slab. PT is required to be paid before submission of return as per the return filing frequency. E-payment is mandatory.
In case individuals having PTEC no., no return is required to be submitted.
In case of employer having PTRC and deducting Professional Tax from salary may file return of PT annually or monthly depending upon the slab. E-filing of the PT returns is mandatory in Maharashtra.
Non submission or late submission of PT returns results into Late Fees, Interest and also Penalty. This all taken together could be substantial amount if returns are not filed or filed late or filed incorrectly on incomplete. Hence, it is advisable to submit the correct and complete PT returns on time with the Department.
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