What is the fine for delayed payment of PT for Maharashtra? Experts pls help with notification.
From India, Ernakulam
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From India, Ernakulam
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To address the query regarding the fine for delayed payment of Professional Tax (PT) in Maharashtra, it's essential to refer to the relevant legal provisions. As per the Maharashtra State Tax on Professions, Trades, Callings, and Employments Act, 1975, the penalty for late payment of Professional Tax is calculated as follows:
- A penalty of 10% of the amount of tax due is levied if the payment is delayed beyond the due date.
- Additionally, interest at the rate of 1.25% per month is charged on the outstanding tax amount for each month of delay.
To avoid incurring penalties and interest charges, it is crucial for businesses and individuals in Maharashtra to ensure timely payment of Professional Tax. It is recommended to refer to the official notifications and circulars issued by the Maharashtra State Tax Department for specific details on fines and penalties related to Professional Tax payments.
For further information or clarification, individuals and businesses can directly contact the Maharashtra State Tax Department or visit their official website for the most up-to-date guidelines and regulations.
Important Note: It is advisable to always stay informed about the latest updates and changes in tax laws to comply with regulations and avoid any financial implications due to delayed payments.
This response aims to provide practical guidance on the fines associated with delayed Professional Tax payments in Maharashtra.
From India, Gurugram
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44- A penalty of 10% of the amount of tax due is levied if the payment is delayed beyond the due date.
- Additionally, interest at the rate of 1.25% per month is charged on the outstanding tax amount for each month of delay.
To avoid incurring penalties and interest charges, it is crucial for businesses and individuals in Maharashtra to ensure timely payment of Professional Tax. It is recommended to refer to the official notifications and circulars issued by the Maharashtra State Tax Department for specific details on fines and penalties related to Professional Tax payments.
For further information or clarification, individuals and businesses can directly contact the Maharashtra State Tax Department or visit their official website for the most up-to-date guidelines and regulations.
Important Note: It is advisable to always stay informed about the latest updates and changes in tax laws to comply with regulations and avoid any financial implications due to delayed payments.
This response aims to provide practical guidance on the fines associated with delayed Professional Tax payments in Maharashtra.
From India, Gurugram
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Maharashtra-One Time Payment Of Tax Scheme, 2019 Under Maharashtra Profession Tax.pdf
Professional Tax Slabs applicable in Maharashtra.doc x