Compliance - PT Returns Filings

Professional tax rate

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Professional tax being levied by the State Government is different in different states. Every state has its own laws and regulations to govern professional tax of that particular state. However, all the states do follow slab system based on the income to levy professional tax.

 

Further, Article 276 of the Constitution which empowers the State Government to levy professional tax also has provided for a maximum cap of Rs 2,500 beyond which professional tax cannot be charged on any person.

 

 

Professional tax rate slabs in Telangana

 

 

 

 

 

 

 

 

 

 Professional Tax for Organisations, Partners and Directors is Rs. 2500 per each.

 

Penalties

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• Fails to get Registration – He will be liable to a penalty of Rs.20/- per day under Section 5(5) for the period during which he remains unregistered.

• Interest on Late Payment of Professional Tax – He is liable to pay interest at the rate of 18 % per annum for such delayed period along with penalties prescribed

• Non-Deposition of Amount. – The officials have the power to recover such amount along with applicable penalty and interest from the assets of such defaulter. Moreover, they can attach his bank account also. In serious cases, prosecution case (police case) also can be filed.

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Due Dates: