Maharashtra Professional tax:

In Maharashtra, it is essential for all employees who are working in Government or Non-Government entities or any other profession including Chartered account and lawyers or persons carrying out some form of business. The Maharashtra professional tax rate is based on the income slabs set by the Government.

PTRC registration:

PTRC stands for Professional Tax Registration Certificate. The function of a PTRC is to allow the employer to deduct and deposit professional tax to and from the salary of its employees.

PTEC registration:

PTEC stands for Professional Tax Enrollment Certificate. The PTEC allows the company to pay the company’s and their director’s professional tax.

Important Points to know about PTRC and PTEC registration:

• The PTRC and PTEC are two different certificates that are commonly required by a business operating in India.
• PTRC stands for Professional Tax Registration Certificate.
• PTEC stands for Professional Tax Enrollment Certificate.
• A business usually requires both to conduct business.
• The regulations regarding PTRC and PTEC differ as per state, as well as the process of registering for the certificates are different.

Maharashtra Professional Tax Limit

• Those entities having a professional tax liability of more than Rs. 1,00,000 are required to file a monthly professional tax return before the last date of each month. 
• Those entities having a tax liability of less than Rs. 1,00,000 in the previous year are required to file a tax return annually on or before the 31st of March.

To whom PTRC and PTEC would be applicable?

• The PTRC is to be obtained by every person who is liable to deduct profession tax of any employee whose monthly salary is above Rs. 7500.
• The PTEC is to be obtained by every person (excluding Partnership firm or HUF) who are engaged in their own business after the incorporation or commencement of business.

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