Maharashtra Professional Tax

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Maharashtra Professional Tax

Professional tax is a State Government tax levied on professionals and members of certain trades. In Maharashtra, the levy and governance of professional tax are regulated by the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. In this article, we look at a brief overview of Maharashtra Professional Tax.

Maharashtra Professional Tax Registration

Maharashtra professional tax registration can be obtained online the State sales tax department website. Application for MH professional tax must be made on Form 1 within 30 days of becoming liable to pay professional tax. After submission of Form 1, an acknowledgement with date and time for attending before Registration Authority would be generated. The Proprietor or Partner or Director of Company has to sign on the application and submit it to the concerned Professional Tax Registration authority. On receiving the signed application, registration for Professional Tax is provided in Form I-A along with TIN (Registration number under Profession Tax Act). You can obtain Maharashtra Professional Tax registration through IndiaFilings.

Maharashtra Professional Tax Filing

Maharashtra professional tax return must be filed by those having professional tax registration. Those entities having professional tax liability of more than Rs.50,000 has to file a monthly professional tax return before the last date of each month. Those entities having a tax liability of less than Rs.50,000 in the previous year has to file a tax return annually – on or before the 31st of March.

A revised professional tax return can be filed in Maharashtra if any omission or incorrect statement has been furnished. Do the revision process of return at any time before notice for assessment or before the expiry of a period of six months from the end of the year for which the return was due.

Know about the recent article of Maharashtra Professional Tax Limit Increased

Payment of Maharashtra Professional Tax

Payment of Maharashtra professional tax is based on the date of enrolment. For entities enrolling before the commencement of a year on or before 31st May, the due date for payment is 30th June of that year. If enrolled after 31st May, MH professional tax payment is due within one month of the date of enrolment.

Maharashtra Professional Tax Fines & Penalties

Non-compliance under Professional Tax regulations in Maharashtra could attract heavy penalty or fines.

Penalty for Not Obtaining Professional Tax Registration

A penalty of Rs.5 per day for each day of not obtaining professional tax registration in case of an employer and Rs.2 in case a person is applicable.

Penalty for Late Filing of Return

Late filing of professional tax return attracts a penalty of Rs.1000 due before filing of the return. The penalty amount is payable in addition to any amount payable as per the return.

Penalty for Late Payment

Late payment of professional tax dues can be penalised with a penalty of 10% of tax due. Further, it charges interest on late payment at upto 1.25% per month.

In addition to the above penalties, the authorities may impose a penalty of not more than Rs.5000, if any person or employer fails to comply with any of the provisions of the Maharashtra Professional Tax Act & Rules.

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