What is due date of professional tax return?
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).
How do I file p tax return?
A step-by-step guide on how to pay professional tax
- Highlights.
- Locate the professional tax website for your state.
- Fill the professional tax payment form carefully.
- Verify the information and pay professional tax online.
- You can also pay this tax at the district sales tax office.
What is the due date for professional tax in Maharashtra?
30th June
The date of payment of professional tax will come down to the date of enrolment. In case of entities enrolling before the start of a year on or prior to 31st May, the due date for payment is 30th June. In case of enrolments post 31st May, professional tax needs to be paid within 30 days of the date of enrolment.
How do I file a Ptrc return for FY 2020 21?
For E.g Return for FY 2020-21 shall be furnish on or before 31st March 2021 if total liability in previous year was less than Rs 1,00,000/- ….
| Amount of PTRC liability for the FY 2019-20 | Due Date and Type of Return |
|---|---|
| More than Rs. 50,000 | On or before the last date of the month to which the return relates (Monthly return) |
Is professional tax deducted every month?
Professional tax is calculated every month based on your gross salary for that month. The professional tax will be levied on this amount of Rs. 40,000. So, each month based on the increase or decrease of your gross salary, your professional tax slab will also differ and accordingly, your employer will deduct this tax.
How can I file PT return in Maharashtra?
Guidance on filing Professional Tax Return in Maharashtra
- The First Point is Professional Tax R.C. No.
- The Second point is M.V.A.T Tin no.
- The third point is Name of the dealer.
- The Fourth point is Address of dealer.
- The Fifth point is Periodicity of return.
- The sixth point is Period covered by the return.
What is P tax return?
Professional tax can be defined as a tax that is levied by a state government on all individuals who earn a living through any medium. The calculation of this tax and the amount collected differs from one state to another. However, the limit has been set to Rs. 2500 per year.
What if professional tax is not paid?
In case of non/late payment of profession tax, penalty will be 10% of the amount of tax. In case of late filing of returns, a penalty of Rs. 1000 per return will be imposed if you filed after due date in 1 month.
What is Prof tax in salary slip?
Professional tax is a tax that is levied by the state government and applies to income you earn through employment. You can often find the deduction for the same on your salary slip each month.
How do I file nil PT return?
How do I fill up a nil return online?
- Enter your income details and deductions. Income tax is computed and you will be shown that you have no tax due.
- Submit your return to the Income Tax Department. And send your ITR-V to CPC Bangalore to complete the e-filing process.
How is professional tax cut in salary?
2,500 can be levied as professional tax on any person per financial year. According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary income.
Which is the due date for profession tax return in Maharashtra?
Vide notification dated 17.06.2021 Due date for filing Profession Tax Returns on the website of the Maharashtra Goods and Services Tax Department for the Months of March-2021, April-2021 & May-2021 is been extended till 30th June, 2021. Mumbai 400 032, Dated the 17th June 2021.
What is the penalty for not filing professional tax in Maharashtra?
Professional Tax Maharashtra – Fines and Penalties An employer will be charged a penalty of Rs. 5 per day for each day of not obtaining professional tax registration. Late filing of professional tax return will attract a penalty of Rs. 1,000. A penalty of 10% will apply in case of late payment of professional tax dues.
Which is the best definition of professional tax in Maharashtra?
Professional Tax in Maharashtra. Professional Tax is a tax levied on the income earned by salaried employees and professionals, including chartered accountants, doctors and lawyers, etc. to the state government. Different states have varying methods of calculating professional tax.
When do you have to pay PT 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 31 st March every year.
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