Ptec number (VAT)

This query is : Open

om aswani

( Author )
10 December 2011

One of my client who is now form pvt limied co,
natue of business activity mfg of grey cloth no of director two both director already have ptec number
now my query is whether co is also require own ptec or not. In the name of company he take new vat number.

MJ Krishnamurthy

( Expert )
12 December 2011

Mr OM Swami,
What is this ptec no.?VAT registration is required for a cloth manufacturing company also,as some categories of cloth are taxable.
MJK

om aswani

( Author )
12 December 2011

Ptec number means profession tax enrolment number. both of director already run proprietorship bussiness of mfg of grey cloth,they hold vat number &ptec no. Now my query is ptec no is also required for company.

MJ Krishnamurthy

( Expert )
13 December 2011

Mr. Om aswani,
Ptec no of directors is required for payment of profession tax as directors. A company is also required to register under PT Act of State to deduct P tax from employees out of their salaries and remit to the Government every month.
MJK

prakash kochar

( Expert )
14 December 2011

Provisions of Prof. Tax are different in different states. In Maharashtra Co. requires a seperate Prof. Tax Enrollment No.and will be lible to pay Prof. Tax though both directors are individually paying PTax under EC hold.

om aswani

( Author )
14 December 2011

Thank you Kocharji, currently i am doing articleship.my boss told me ptec for co is not required,but when i personally read the act i found clearly stated what u are told me "co is liable for new ptec no". one more query sir i want to know procedure for getting new ptec no for all of our client who already hold old ptec number i want new ptec no which start with 99 number