How can I pay PTRC bill 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
Yes, it is compulsory to pay professional tax in Maharashtra. Self-employed and salaried individuals are liable to pay this tax depending on their income. However, the employers are responsible for paying this tax to the authorities on behalf of their employees.
If you obtained the certificate of enrollment on or before the 31st of May, then you must pay your professional tax before the 30th of June of the same year. If you enrolled after the 31st of May, you must pay the professional tax within a month of the enrollment date.
It's essential for a business to secure a PTRC once it starts compensating any employee with a monthly salary of ₹7,500 or more. PTEC (Professional Tax Enrolment Certificate) in Maharashtra is for independent workers who must pay the professional tax themselves.
PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate.
The Late filing of professional tax return attracts a penalty of Rs. 1000 due before the filing of the return.
Procedure for obtaining Professional Tax in Maharashtra
Here is the procedure of the same: 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.
To verify your PT payment and ensure it's successful, you can check your payment status on the official website of the Maharashtra Goods and Services Tax Department. You can also check your bank statement to see if the payment has been deducted from your account.
In business, a due date is the latest a payment can be made on an invoice or debt before it's considered overdue. Sort your invoices by the due date to keep track of your overdue invoices and follow up with customers who owe you.
The day when your grace period is exhausted is called the payment due date. Now, it is crucial for you to pay the entire outstanding balance to avoid any late fees. Your outstanding balance is the amount that is required to be paid after your bill's grace period. It also includes dues of previous months, if any.
What is the limit of Ptrc employee in Maharashtra?
The PTRC is to be obtained by every person who is liable to deduct profession tax of any employee whose monthly salary is above Rs. 7500.
If any return is not filed in time, mandatory late fees is payable @ ₹ 1,000/- per return, in respect of all those returns filed after due date. An employer can file revised return of profession tax within 6 months from the end of the year.
2500/-. What is enrolment certificate and what is registration certificate? Every employer in specific states is required to deduct taxes from salary when paid to one or more employees when payment made exceeds Rs 5000(this limit is for Maharashtra) and deposit with state government.
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.
Registration & Filling of PTEC and PTRC is Mandatory for : All types of paid professionals working or trading in India. According to the regulation, every professional acquiring a regular monthly wage is obliged to pay this particular tax.
In addition, the Maharashtra State Government granted special privileges to women professionals. The provision states that women employees earning up to Rs. 10,000 per month will not have to make professional tax (p tax) payment on their salary. In the financial year 2015-2016, this exemption was introduced.
The professional tax is determined by the gross monthly income corresponding to the income slab, as per the state where you are employed. So, if your gross income every month is Rs. 30,000 and you are working in Maharashtra, you are liable to pay Rs. 200 every month except February.
NIL return: For NIL return late filing, CGST has reduced the amount to INR 10 per day and similarly SGST also has reduced the amount to INR 10. Thus, a total of INR 20 per day is levied for not filing NIL returns on time. Under IGST also, the late fees have been reduced to INR 20 per day.
You must file your nil return by the 31st July of every year. Failing to file your return within the due date, you will be charged ₹1,000 nil return late fee. If your income is below the taxable income range of ₹5,00,000, the late fee for nil return is capped at ₹1,000.
Monthly Deposit: Deductors should deposit TDS for every month by the 7th of the following month. March Exception: For deductions made in March, the closing date extends to 30 April.
What is the interest rate for late payment of VAT in Maharashtra?
Late or Non-Payment by Unregistered Dealer
Simple interest at 1.25% for each month of delay from 1st April of the respective year to the date of payment of tax. Subject to the amount of interest not exceeding the quantum of tax payable for the respective year.
In Maharashtra, it is mandatory to get PTEC registration under for professional tax within 30 days from setting up business within the state. Every person who is engaged in any profession (business or service) excluding Partnership firm or HUF is required to get registered and to pay a profession tax of Rs.
There is no specific number of employees required to pay professional tax. The employer has to deduct professional tax from all his employees. It is so because every individual with an income is liable to pay the tax.
If you obtained the certificate of enrollment on or before the 31st of May, then you must pay your professional tax before the 30th of June of the same year. If you enrolled after the 31st of May, you must pay the professional tax within a month of the enrollment date.
Most people are just fine as long as they pay by the due date. But if you're looking to bolster your credit or reduce your interest costs, consider paying earlier. Paul Soucy has led the Credit Cards content team at NerdWallet since 2015 and the Travel Rewards team since 2023.
