Professional Tax Registration
Professional Tax Registration
Professional Tax is governed by the Trades, Callings and Employments Act, 1975. Person doing business in Maharashtra like Professionals, Traders etc. is liable to obtain Profession Tax Registration certificate and do compliance of profession tax. Simply saying Profession Tax is a state-level tax that applies to salaried employees and professionals, including lawyers, Consultants and doctors.
Company needs to apply for Professional Tax Registration Certificate (PTRC) who is in the role of employer whereas Professional tax Enrollment certificate (PTEC) is to be obtained by the company for its own existence and engaging in profession (and of-course business too) within the state of Maharashtra. Total yearly Rs. 2500 required to be paid like Rs. 200 per Month and Rs. 300 in Month of February (Rs. 200 * 11 + 300 = 2500) for late payment of Taxes interest in applicable. Our dedicated professional team helps you in taking registration and maintaining tax compliances with timely reminder and follow-ups.
The process of Professional tax registration in India is given by State Governments. Now PT registration For Individual, LLP, Private Limited can be completed within 3-4 business days. B H SOLANKI employs qualified company secretaries and chartered accountants, who ensure highest customer satisfaction and timely delivery of service. Our procedure of registration is complete online well managed with communications. We provide Professional Tax Registration services in Maharashtra, Madhya Pradesh, Karnataka.
Professional Tax Important Points
- Applicable for Registration if employee salary > Rs. 7500 / Rs.10000 PM
- Profession tax calculation basis is salary or wages earned per month by the employees
- Lum Sum PT Tax can be of Rs. 2500/- in Maharashtra
- PT in Maharashtra to be paid monthly/annually
- Apply PT Registration with in 30 days from Applicability
- On Late Payment of Professional Tax simple interest rate 1.25%PM
Highlights of Profession Tax
Return Filling
Persons holding Professional Act Registration is required to file monthly / quarterly / Annual Returns on basis of tax payable criteria.
Simple Compliance
Compliance under Professional tax such as timely tax payment and filing of return is simple which can be maintained easily
No Renewal of Registration
Professional Tax is issued for the lifetime purpose hence there is no requirement of renewal of same as like in case of Shop Act etc.
Online Tax Payment
Profession tax is state tax , each Government have dedicated website for online payment of PT. In some of state Online Payment mandatory.
Income Tax Expenses
Professional Tax paid shall also be allowed as a deduction in computing the income under the head “Salaries.To be deducted from profit
GST & PT
GST officer sharing information of person to PT department who are not registered under Profession tax. Sharing of contact between.
Check List of Document for Professional Tax registration
ID Proof
- PAN Card of Company
Business Details
- Certificate of Incorporation
- AOA & MOA
- Directors KYC
Address Proof
- Light bill
- Rent Agreement