Greetings from Connect One Dynamic Synergies Private limited.
Consequences of violation of professional tax regulation
While the actual amount of penalty or penal interest may depend on the respective state’s legislation, a penalty may be levied by all such states for not registering once professional tax legislation becomes applicable.
Further, there are also penalties for not making the payment within the due date and also failing to file the return within the specified due date.
In Maharashtra, for example, the penalty for late registration is Rs 5 per day. There is also 1.25% monthly interest for late payment, a 10% penalty on the tax amount for non-payment/delay of professional tax, and a penalty of Rs.1,000-2,000 for late return submission.
In order to give better clarity, enclosed, please find the Professional Tax- Interest rates which are applicable to Pan India.
Thanks and Regards,
Connect One Compliance Team.
From India, Bengaluru