Otpt Scheme

The Government of Maharashtra has launched a scheme called One Time Payment Tax (Otpt Scheme), which is being implemented from 1st April 2019. The scheme acts as an option for the payment of profession tax in advance for an enrolled person as per the Maharashtra State Tax in professions, trades, Callings and Employment Act, 1975.

Applicability of the Otpt Scheme

The scheme applies to enrolled individuals, and these enrolled individuals can opt for the scheme anytime after the enrollment process.

Eligibility of the Otpt Scheme

An enrolled person can avail the benefits of this scheme by making payment of tax for a minimum of three years and upto a maximum of 35 years.
Senior citizens who are above 65 years of age are exempted from professional tax in Maharashtra.

The enrolled individuals can opt the scheme for the second time, on the completion of the previous period that is availed under the scheme. Every enrolled person availing the benefits of the scheme can join employment by furnishing OTPT certificate to the employer. There is no requirement for the employer to do PTRC Education and the liability would be deemed to be paid for the period that is covered under the scheme.

Required Amount

The amount to be paid has to be made as per the amount set by the Government. All enrolled individuals who have made five years lump sum payment period before 01.04.2018, can opt for the scheme after the completion of five years. All payments done for 2010-19 or lumpsum payment made after 01.04.2018, can opt for the scheme by remitting the balance amount payable for the period that is opted under the scheme.

Refund of Excess Payment

Once the amount is paid, there is no refund of money.

Withdrawal of Benefits

Withdrawal of benefits under the scheme would be made

When there is a suppression of any material information or particulars by furnishing any incorrect or false information.
When there is a suppression of material facts.
Concealment of any particulars.

Payment Procedure

The enrolled individuals who make payments in April can pay less than the individual who pays in the subsequent month of the financial year. Given below are the step-wise procedures to make the payment.

Step 1: Login to the website The user has to login to the official portal.

Step 1: Otpt Scheme Step 2: Click E-payments Tab From the 'E-Payments' Tab, click PTEC.

Step 2: Otpt Scheme Step 3: Enter the PTEC TIN After selecting 'Make a new OYPT Payment', the user then has to enter the 11 digits PTEC TIN.

Step 3: Otpt Scheme Step 4: Enter the PAN If PAN is not automatically entered, the user has to enter PAN. Step 5: Change Trade Name If there is a requirement to change the Trade Name, the user then may change the name. Step 5: Selecting Schedule Entry Depending on the classification, the user has to sect the Schedule Entry. Step 6: Selecting Number of Years The user then has to select the number of years to receive the benefit of the scheme. The minimum number of years is three and the maximum number 0f years is five. Step 7: Select Location The user has to select the Location. Step 8: Select Payment Gateway The user has to select the Payment Gateway. Step 9: Enter Mobile Number and Email ID Following this, the user has to enter the mobile number and Email ID. The 'I Agree' option has to be checked. Step 10: Check Draft Challan The user has to chek the Draft Challan and then click 'Proceed'. Step 11: Make Payment The user has to select the bank, enter the captcha code and then make payment.

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Frequently Asked Questions

Common questions about One Time Payment Tax Scheme in Maharashtra 2023.

The One Time Payment Tax (OTPT) Scheme is an option introduced by the Government of Maharashtra for enrolled individuals to pay their profession tax in advance for a minimum of 3 years and up to a maximum of 35 years, as per the Maharashtra State Tax in professions, trades, Callings and Employment Act, 1975.

Any enrolled individual can avail the benefits of the OTPT Scheme by making the required payment for the chosen number of years. However, senior citizens above 65 years of age are exempted from professional tax in Maharashtra.

An enrolled person can opt for a minimum of 3 years and a maximum of 35 years under the OTPT Scheme.

Yes, an enrolled individual can opt for the OTPT Scheme for the second time after completing the previous period availed under the scheme.

The amount to be paid under the OTPT Scheme is determined by the Government of Maharashtra. Individuals who make payments in April may pay less than those who pay in subsequent months of the financial year.

No, there is no refund of money once the payment is made under the OTPT Scheme.

The benefits of the OTPT Scheme can be withdrawn if there is suppression of any material information or particulars, furnishing of incorrect or false information, or concealment of any particulars.

The article provides a step-by-step procedure for making payment under the OTPT Scheme, which involves logging in to the official portal, entering PTEC TIN and PAN, selecting the schedule entry, number of years, location, and payment gateway, and then completing the payment process.

Yes, an enrolled person availing the benefits of the OTPT Scheme can join employment by furnishing the OTPT certificate to the employer. The employer is not required to do PTRC Education, and the liability would be deemed to be paid for the period covered under the scheme.

Enrolled individuals who made lump sum payments for 5 years before April 1, 2018, can opt for the OTPT Scheme after completing the previous 5-year period. Those who made payments for 2010-2019 or lump sum payments after April 1, 2018, can opt for the scheme by remitting the balance amount payable for the chosen period.