Assessment Profession Tax

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Sreenivas (Querist)
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07 October 2008 To All,
Professional Tax officer ( Karnataka ) wants to show the books of records for the year 2007-08 - (Asessment).we are software -small MNc - and not maintained any salary bonus registers. Is that mandatory to produce the salary Register and Bonus registers or salary statement and documents are enough. Is there any penalty / Proceedings for non availability of books of records. We have detailed monthly salary statements and Bank transfer letter copies. If there is any penalty, what is the maximum amount it will be?.
Please guide me.

PIYUSH JAIN

PIYUSH JAIN (Expert)
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07 October 2008 https://164.100.80.70/acts/ACTS%20E/180e.pdf

You can get all your your answers from the above link Point no 19.
The officer will tell you to maintain all the records if not maintained.
Penalty is 5 RS per day for the delay.
Records are required to preserve for 5 years.

Taxguy

Taxguy (Expert)
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07 October 2008 Under the Shops and Commercial Establishments Act and other Labour laws you are required to maintain specific registers.

So the AO may warn you and may verify the available records and satisfy the requirement of assessment.

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