What is PTEC ?

PTEC stands for Professional Tax Enrolment Certificate. Professional Tax is collected by the State Government on Salaried and business people. This tax is in addition to any other taxes such as Income Tax, Indirect tax (GST) etc. Usually these registration is required to conduct business in Maharashtra & many other states. Business are required to pay Rs. 2500/- to Maharashtra Goverment as PTEC.

When to apply for PTEC Registration ?

Obtaining a PTEC Registration is mandatory within 30days from the start of Business/Practice or from the date of incorporation.

Who is required to pay PTEC ?

PTEC is mandatory for all who are engaged in Business or Profession. The following are mentioned below :
• An Individual
• A Hindu Undivided Family (HUF)
• Company(Pvt Ltd, Public Ltd, OPC)/Firm/LLP/Co-operative Society/AOP/BOI, whether incorporated or not
Usually the PTEC for salaried person are deducted from there Salary by Employer’s.

Due date for payment of PTEC

• In Respect of Persons enrolled on or before the 31st May : Tax is to be paid before 30th June
• In Respect of Persons enrolled after 31st May : Tax is to be paid within one month from the Date of Enrollment
For Example, If a person wants to pay PTEC for the Financial Year 2022-23, he should pay it on or before 30th June 2022 (If registered before 31st May 2022).

Interest & Penalty for Non Payment of PTEC

Interest : An Interest will be levied on delayed payment of Professional Tax (PTEC) i.e. 1.25% p.m. for the first month, for next two month 1.5% p.m. and thereafter 2% p.m.
Penalty : A penalty of 10% shall be levied on the amount owed in case of delayed payment. Delay in obtaining the PTEC Certificate will be charged at Rs.2 per day.