sadiq (articled assistant) (27 Points)
29 March 2016
ANAND
(CA)
(133 Points)
Replied 29 March 2016
PTEC is usually for an individual or a company
PTRC is for any concern which has employees be it proprietor/ firm etc
Prof tax returns ie PTRC are usually filed anually but if u enrol for first year its monthly
For PTEC just payment is required no returns
sadiq
(articled assistant)
(27 Points)
Replied 29 March 2016
Thanks a lot,
but in that case, if one registers himself in the middle of the year say, December then does he requires to file return for the previous months & also does he requries to pay prof tax for the prior months (i.e. before Nov).
Moreover, does interest & late filing penalty required to be paid?
Please do help on that too.
ANAND
(CA)
(133 Points)
Replied 29 March 2016
Suppose you already had a business then you may pay for max 5 years with penalty if you havent registered. U need to pay PT from the day u have employee's. Yes interest penalty is to be paid. For the first time registration u need to file monthly and also pay tax monthly
sadiq
(articled assistant)
(27 Points)
Replied 31 March 2016
Sir
What is the rate of interest chargeable on late payment of Prof Tax & late filing of return?
Kindly, help with that
Thanks
CAclubindia
