Profession Tax certificate consists of two types PTRC and PTEC. Professional tax registration certificate (PTRC) is to be obtained by the company in the role of Employer. The company will have to deduct Professional Tax on Salaries paid by it to its employee where the salary paid to such employee exceeds Rs.7, 500/- per month. Professional tax Enrollment certificate (PTEC) is to be obtained by the company for its own existence and engaging in profession (and off-course business too) within the state of Maharashtra.
If you have employees in different states then separate profession tax registration is required to be taken for every state.
Failure to obtain profession tax attracts penalty and fines which may keep on accumulating.
Collecting this tax is compulsory in nature and is the responsibility of employer to deduct profession tax from the salary of his employees.
Every person engaged actively or otherwise in any profession, trade, callings or employment and falling under one or the other of the classes mentioned in the second column of Schedule I appended to Profession Tax Act, is liable to pay Profession Tax.
The categories of persons liable for Profession Tax are any individual, a Hindu Undivided Family, firm, company, corporation or other corporate body, any society, club or association.
Yes, it is necessary for a Registered dealer under MVAT Act to obtain registration under Profession Tax Act.
Yes, they can get Registration Certificate if they are employing wage earners on regular basis, as only persons earning wages on casual basis are not liable to pay profession tax.
An employer, who wishes to obtain Registration Certificate, has to apply for the same within thirty days of his becoming liable to pay tax.
The penalty prescribed as per section 5(6) for giving false information in application for Registration Certificate or Enrolment Certificate is equal to three times the tax payable under the Profession Tax Act.
The rate of interest is 1.25% per month of the amount of such belatedly paid tax.
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