Penalty on non-payment of profession tax within prescribed t

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2013 Hello Everyone,

I have employed with one of the Pvt.Ltd.Co. We have done registration of one of our Co. in November'2012 and have failed to make Profession tax payment.
My query is if we are making an payment now how much penalty will be imposed and how it should be calculated? Our previous year tax liablity is below Rs.50,000/p.a.

Please advice.

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

06 September 2013 PROFESSION TAX ACT, 1975 - Maharashtra

Penalty for "Non-payment or late payment of tax." by Enrollee/Employer (Sec. 10)

The authority may impose a penalty equal to 10% of the tax due.

Interest on late payment of tax. (Sec. 9)

The interest for late payment of tax or any additional demand of tax raised in assessment is 1.25% p.m. with effect from 1-7-2004 (2% p.m. up to 30-6-2004.)

Note:
The Rate of Interest and Penalty may be differ according to States..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ashutosh Purohit

Anu Raj

Anurag Sharma

divakar podaturu

AJAY Kumar Agrawal

Subscribe Now

Penalty on non-payment of profession tax within prescribed t

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Accountant

GST CONSULTANT

Manager- Finance and Compliance

CA Final

GST CONSULTANCY