Due dates for PTRC in Maharashtra FY 2021-22 Download PTRC Periodicity
PTRC stands for Profession Tax Registration Certificate. Every Employer has to deduct profession tax from the salary of the employee and deposit the same in the government treasury as per Rule and The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. An entity (Sole Proprietor, Partnership, LLP, Company or any other legal entity) is compulsorily liable to obtain PTRC registration, if it pays salary to any Male employee of more than Rs 7500/- per month or pays salary to Female employee of Rs 10,000/- per month of the employee arises if the total salary of the employee is more than Rs. 7,500.
What is the rate at which the employer must deduct the profession tax of an employee as per Rule and the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975?
Amount of Profession tax to be deducted to be deducted by the employer is as follows:
|Sr. No.||Amount of Salary of employee (per month)||Rate of Tax|
|1||Upto Rs. 7,500||No Tax|
|2||Male Employee Salary more than Rs 7500/- but less than Rs 10,000/-||Rs. 175 per month|
|3||Female Employee Salary upto Rs 10,000/-||No Tax|
|4||Any Employee Male or Female Earning more than Rs 10,000/-||Rs. 2,500 Per Annum (Rs. 300 for the month of February and Rs. 200 for other months)|
Due date of payment and filing of return under PTRC For Financial Year 2021-22
The following is the summary for due date for making payment and filing return under PTRC from FY 2020-21 as per circular dated 6th June 2019 the limit has revised to Rs 1,00,000:
|Amount of PTRC liability for the FY 2020-21||Due Date and Type of Return|
|First Year of Registration||Monthly returns before last day of month|
|Less than Rs. 1,00,000*||On or before 31st March of the Year for which the return relates (Yearly return)|
|More than Rs. 100,000*||On or before the last date of the month to which the return relates (Monthly return)|
As per section In case the employer fails to file the return within the due date then the employer is liable to pay late fee of Rs. 1,000 before filing the return.
The due date of payment and filing of PTRC return depends on the PTRC liability of the entity for the Previous Year. Where the employers PTRC liability for the previous year is less than Rs. 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/- . In this case return shall be filed yearly.
Where the employers PTRC liability for the previous year is More than Rs. 1,00,000 then the entity is liable to pay the PTRC payment and file the return at the end of the immediate next month i.e. at the end of next month. For e.g. Return for Month of April 2021 shall be furnish on or before 30th May 2021. In this case return shall be filed monthly.
Late fees and Interest under the PTRC Maharashtra
|Late fees on late filing of PTRC return||Rs. 1000|
|Interest on failure to deduct profession tax||Interest at 1.25% of PTRC liability per month till the default continues|
Interest on failure to deduct profession tax
As per section 9(2) of the PTRC act 1975, if an employer who is liable to pay PTRC under the act, fails to pay the same to the government then he is liable to pay simple interest at the rate of 1.25% each month for the period for which the tax remains unpaid.
Late fees on late filing of return
As per section 6 of the PTRC act 1975, In case the employer fails to file the return within the due date then the employer is liable to pay late fee of Rs. 1,000 before filing the return.
Under Stand with Example the Liability of PTRC
For instance, Mr. X is employer running business having current employed 5 persons consisting of 3 Male and 2 female employees having monthly salary of Rs. 15000 per month each for 2 Male employees, 1 male having salary of Rs. 9000 per month and Rs. 15000 for 1 female employee and Rs. 9500 for the other female employee. In the same financial year Mr. X has hired 1 male accountant in the month of October 2019 salary paid is Rs. 12,000 per month. Let us calculate the PTRC liability of Mr. X for FY 2021-22
- Calculation of PTRC for Male employees with salary less than Rs. 7500 but not more than Rs. 10,000:
Only 1 employee is paid salary of less than 10000 the PTRC liability shall be as follows: = (175*12) = 2,100
- Calculation of PTRC for employees with salary more than Rs. 10,000:
In the above case 4 employees are getting salary of more than Rs. 10,000 but one of the employee is employed from October 2019 which will be calculated as below:
- The PTRC for 3 employees shall be as follows: [(200*11) + 300] X 3 = 7,500
- The PTRC for 1 employees shall be as follows: (200*5) + 300 = 1,300
Total PTRC liability of 4 employees shall be (a + b) = 7500 + 1300= 8,800
So, total PTRC liability of Mr. X is Rs. 10,900 (1 + 2)
Download PTRC Periodicity for FY 2021-22
The PTRC Periodicity table shows liability for an entity to pay and file returns monthly or yearly. The entities which are registered in Maharashtra State and download and check if PTRC is applicable monthly or yearly