Obtaining a PTEC registration is mandatory within 30 days from the date of incorporation or start of the business or practice, i.e; you have to apply for PTEC within 30 days of obtaining S & E license, Certificate of Incorporation, GST Registration,etc.
Important Class of Persons and PTEC Payable
Following details are provided for PTEC for the state of Maharashtra
- Legal Practitioners including Solicitor and Notaries;
(b) Medical Practitioner including Medical Consultants and Dentists;
(c) Technical and Professional Consultants, including Architects, Engineers, R.C.C. Consultants, Tax Consultants, Chartered Accountants, Actuaries and Management Consultants;
(d) Chief Agents, Principal Agents, Insurance Agents and Surveyors and Loss Assessors registered or licensed under the Insurance Act 1938, I.T.I. Agents under U.T.I. Scheme, N.S.S. Agents under Postal Scheme;
(e) Commission Agents, Dalals and Brokers (other than estate brokers covered by any other entry elsewhere in this Schedule)
(f) All types of Contractors (other than building contractors covered by any other entry elsewhere in this Schedule); and
(g) Diamond dressers and diamond polishers, having not less than one year's standing in the profession.
- Directors (other than those nominated by Government) of Companies Registered under the Companies Act 1956 (1 of 1956) and Banking companies as defined in the Banking Regulation Act, 1949 (10 of 1949)
Explanation: The term 'Directors' for the purpose of this entry will not include the person who are Directors of the Companies whose registered offices are situated outside the State of Maharashtra and who are not residing in the State of Maharashtra.
- Companies registered under the Companies Act, 2013 and engaged in any profession, trade or calling.
- Each Partner of a firm (whether registered or not under the Indian Partnership Act, 1932) engaged in any profession, trade or calling.
- Each Co-parcener (not being a minor) of a Hindu Undivided Family, which is engaged in any profession, trade or calling.
- Persons, other than those mentioned in any of the preceding entries who are engaged in any profession, trade calling or employment and in respect of whom a notification is issued under the second proviso to sub-section (2) of section 3.
- Dealers registered under the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005) or Dealers registered only under the Central Sales Tax Act, 1956 (74 of 1956), or any person registered under Goods & Service Tax
- The individual has to pays Rs. 2,500 annually
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 of the date of enrollment.
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.
Following classes of persons are exempt from payment of professional tax:
- Persons having completed the age of 65 years (w.e.f. 1-4-1995);
- Partnership firms and HUFs (but each partner of a partnership firm and each coparcener of HUF are liable for enrollment, see Entries 19 & 20 in Schedule 1).
Lump Sum Payment Scheme for PTEC Holder Persons
There is a lump sum payment scheme for enrolled persons. The individual who pays Rs. 2,500 annually has an option to pay Rs. 10,000/- for five years.