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Penalties and Interest Amount of Professional Tax of Companies

Chandrakant Parmar (11 Points)

28 October 2021  
sir ,Our Company which payment pending sich year 2012-13 for low turnover and but our director got salary and after 3-4years employee's tax unpaid and company 's tax unpaid since 2012-13 please give penalties and Interest charges ,exemption details
so we can pay tax.?

 1 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (2919 Points)
Replied 29 October 2021

Consequences

  1. Fails to Get Registration
    • He will be liable to a penalty for the period during which he remains unregistered.
  2. Fails to Deposit to the Government/ Late Deposition
    • He will be liable to a penalty for the period during which he remains unregistered.
  3. Non-Deposition of Amount.
    • The officials have power to recover such amount along with applicable penalty and interest from the assets of such defaulter. Moreover, they can attach his bank account also. In serious cases, prosecution case also can be filed.

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