WHY PTRC RETURNS?

Profession Tax is a state-level tax that applies to salaried employees and professionals, including chartered accountants, lawyers and doctors.The frequency of return filing depends on the state you're in.PTRC stands for Professional Tax Registration Certificate.

APPLICABILITY

PTRC is for employees whose salary is more 7500
For Male-more than 7500 -amount deduct from salary Rs.175 per month
For Female/Male -more than 10000-amount deduct from salary Rs.200 per month

The Return is filed in FORM IIIB

The year when we get register we need to file monthly return for that particular For Suceeding Years,

One can opt for two options:-

Option 1:One can file monthly return or
Option 2:One can file yearly return

DUE DATES

The due date for monthly return is last day of the respective month
The due date for yearly return is 31st of March.

CONSEQUENCES OF NON-FILING

One can opt for monthly return filing option only if amount of PTRC paid in previous is more than 50000
Penalty for late filing is Rs.1000 per month