What is the due date for payment of monthly professional tax in Maharashtra?
Maharashtra Professional Tax Payment Due Date
What is the due date for PT payment in Maharashtra?
Entities that enrolled before 31st May of a financial year must pay PT in Maharashtra within 30th June of that particular year. Entities that enrolled after 31st May of a financial year must pay PT in Maharashtra within one month of the enrolment date.
What is the new PT rule in Maharashtra?
| Men Monthly Gross Salary | Amount Payable as Professional Tax |
|---|---|
| Up to Rs.7,500 | Nil |
| Rs. 7,501 to Rs.10,000 | Rs. 175 per month |
| Above Rs. 10,000 | Rs. 200 per month except for the month of February and Rs. 300 for the month of February |
What is due date for payment of tax?
Pay advance tax in installments throughout the year as per due dates (15% by June 15th, 45% by Sept 15th, 30% by Dec 15th, and remaining by March 15th).
How to pay monthly professional tax online in Maharashtra?
Go to Maharashtra Government's GST Department website. Click on 'e-Payments'. Select the option which is applicable as per the status of your profession tax payment. Kindly select TIN/PAN/TAN number, as applicable and enter the respective number along with the captcha shown in the image.
What is the due date for payment of tax in India?
You must pay advance tax before the financial year ends in 4 instalments: 15th June, 15th September, 15th December and 15th March.
Is professional tax applicable in Telangana?
As per the Telangana Professional Tax Act, 1987, earning individuals are required to pay this tax; it can be a maximum of Rs 2500 and a minimum of Rs 110 annually depending on their income. For instance, if you are earning more than Rs 20,000 per month, the professional tax payable per month is Rs 200.
How to pay PT in Maharashtra?
- Visit the Maharashtra Government's GST Department website.
- Tap on e-payments.
- Choose the option as per your professional tax payment.
- Choose the TIN/PAN/TAN number and enter the captcha.
- Now choose PTRC or PTEC act as per your convenience.
Is Ptrc return monthly or yearly in Maharashtra?
| Annual Tax Liability During the Preceding Year | Periodicity | Due Date for Payment & E-Return Filing |
|---|---|---|
| Annual Tax Liability less than Rs. 50,000 | Annually* | 31st March of the respective F.Y. |
| Annual Tax Liability equal to or above Rs. 50,000 | Monthly | Last day of the respective month. |
Is there any change in professional tax in Maharashtra?
The substituting provision has further provided that female employees / wage earners earning salary or wages more than INR 25,000 per month are covered in the class of eligible persons for payment of professional tax with the same rate of tax as the rate for male employees who earn salary or wages more than INR 10,000 ...
What happens if you pay taxes after due date?
Missing the tax deadline: Penalties and interest
When you miss the tax deadline, a key thing that happens is that interest accrues on your unpaid balance and compounds daily from April 15 until you pay the balance in full. The interest rate on underpayments of tax is set each quarter.
What is the due date for TDS and TCS payment?
This amount is supposed to be deposited on or before the 7th of the following month. However, for the TDS deducted in March, the amount can be deposited till 30th April. For the TDS deducted on the purchase or rent of property, the due date is 30 days from the end of the month in which the amount is deducted.
What is the late fee for TDS payment?
You can file TDS after the due date, however penalty of Rs 200 per day as per Section 234E needs to be paid. The deductor is liable to pay the penalty for every day during which the failure continues. However, the amount of late fees cannot exceed the TDS.
How much is professional tax in Maharashtra?
| Tax slab | |
|---|---|
| Monthly salary | Tax per month |
| Up to Rs. 7,500 | Nil |
| From Rs. 7,501 to Rs. 10,000 | Rs. 175 |
| Above Rs. 10,001 | Rs. 200 & 300* |
How many employees are required for professional tax registration in Maharashtra?
How many employees are required for PT Registration in Maharashtra? Every individual with an income is liable to pay Professional Tax. Accordingly there is no specific number of employees required to pay Professional Tax.
How to register for professional tax in Maharashtra?
- An application must be made in Form 1 within 30 days of becoming liable to pay the professional tax.
- Once Form 1 is submitted an acknowledgment with the date and time for attending the registration authority is generated.
What is the penalty for TCS?
Under Section 271H, a penalty can be levied if the tax collector files an inaccurate TCS return. A minimum penalty of Rs 10,000 and a maximum penalty of up to Rs 1,00,000 can be levied if the collector files a wrong TCS return.
What is the TDS rate under section 194J?
A person is only required to deduct Tax Deducted at Source (TDS) at the rate of 10% when specific payments are made to a specific resident, as per the guidelines of Section 194J of the Income Tax Act, 1961.
Why do we pay income tax on April 15th?
The 16th Amendment to the Constitution was ratified in 1913, which gave Congress the authority to tax all incomes. The first filing deadline in 1913 was March 1, which was changed to March 15 in 1918 and finally to April 15 in 1955 to allow for more time for people to prepare their returns.
How to download professional tax challan in Maharashtra?
- Select the Other Acts Registration option.
- Click on RC Download.
- Enter the PAN card number/TIN number.
- Click on Get Status.
- You will get to see the PTRC challan next.
- Click on Save and Download Challan, and it will get done.
Is PTEC compulsory for GST registration in Maharashtra?
PTEC (Professional Tax Enrollment Certificate): PTEC is a certificate required for professional tax registration in certain states of India, including Maharashtra. It is levied by state governments on salaried individuals, professionals, and business owners.
What is PTEC and PTRC in Maharashtra?
PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate.
Who is responsible for PTRC in Maharashtra?
Who is liable to apply for PTRC Registration in Maharashtra ? This certificate is to be obtain by every person who is an employer (other than Government Officer) and liable to deduct & deposit Professional Tax on behalf of an employee.
Who is liable for PTRC registration in Maharashtra?
Those not covered by an employer must pay this tax themselves. In Maharashtra, PTRC (Professional Tax Registration Certificate) is a state tax collected by employers from employees' monthly salaries. Employers must deposit this amount to the government, or face penalties.
How much is the PTEC payment in Maharashtra?
Professional Tax Enrollment Certificate (PTEC)
2500 annually. Companies with Directors will have to obtain the Professional Tax Enrollment number and need to pay Rs. 2500. This payment needs to be made by the company for its existence and getting engaged in the profession in Maharashtra.
