What is the due date of Pt 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).
What is due date for filing Ptrc return in Maharashtra?
1,00,000 from FY 2020-21 then the entity is liable to pay the PTRC payment and file the return on or before 31st March of the year for which the return relates. For E.g. Return for FY 2021-22 shall be furnish on or before 31st March 2022 if total liability in previous year was less than Rs 1,00,000/- .
What is MVAT act?
Maharashtra Value Added Tax Act. INTRODUCTION. The system of Value Added Tax (VAT) has been implemented, in the State of Maharashtra, w.e.f. 1st April, 2005. INCIDENCE AND LEVY OF TAX. As per the provisions of MVAT, a dealer is liable to pay tax on the basis of turnover of sales within the State.
Is PT date Extended?
Karnataka extends Professional Tax filing For April and May 21. The Government of Karnataka with The Karnataka Tax on Professions, Trades, Callings, and Employments (Removal of Difficulties) Order, 2021 made an extension to the Professional Tax Return Filing.
What is PT return?
Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this professional tax.
What is the difference between Ptrc and PTEC?
PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate. On the other hand PTRC allows the employer to deduct and deposit professional tax from the salary of its employees and deposit it to government.
What is PT annual return?
Every employer registered under the Profession Tax Act is required to furnish an annual return in Form 5 within 60 days of the expiry of a year. Further, the employer shall pay the full amount of tax payable on the basis of such return as reduced by any tax already paid along with monthly statement in Form 5A.
What is PT enrollment?
Overview – Professional Tax Employer Registration Profession Tax (PT) is a tax levied on the employment and Profession by respective State Government in India. In Karnataka, Profession Tax is levied under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976.
What is PT in salary slip?
When you look at your payslip or salary slip, along with the deduction column, you will notice a deduction marked as “PT”. PT or Professional Tax, as it is called, is a tax paid to the state government.