Difference between PTRC and PTEC Registration for skilled Tax in Asian country

Difference between PTRC and PTEC Registration for skilled Tax in Asian country

Deduction out there in financial gain Tax:

The PTEC tax quantity paid throughout the year is additionally allowed as a ‘Deduction’ below the revenue enhancement Act.

Important category of Persons and PTEC Payable:

Following details ar provided for PTEC for the state of geographic area for FY 2017-18:

(1) Legal Practitioners together with Solicitor and Notaries;

(2) medical man together with Medical Consultants and Dentists;

(3) Technical and skilled Consultants, together with Architects, Engineers, R.C.C. Consultants, Tax Consultants, hired Accountants, Actuaries and Management Consultants;

(4) Chief Agents, Principal Agents, Insurance Agents and Surveyors and Loss Assessors registered or licenced below the Insurance Act 1938, I.T.I. Agents below U.T.I. Scheme, N.S.S. Agents below communication Scheme;

(5) Commission Agents, Dalals and Brokers (other than estate brokers lined by the other entry elsewhere during this Schedule)

(6) all sorts of Contractors (other than building contractors lined by the other entry elsewhere during this Schedule); and

(7) Diamond dressers and diamond polishers, having not but one year's standing within the profession. Rs.2500 once a year
Directors (other than those appointive  by Government) of firms Registered below {the firms|the businesses} Act 1956 (1 of 1956) and Banking companies as outlined within the Banking Regulation Act, 1949 (10 of 1949)

Important category of Persons and PTRC Payable:

Professional tax Enrollment certificate(PTEC) is to obtained by the corporate for its own existence and interesting in profession (and of-course business too) at intervals the state of geographic region. PTR can have to be compelled to be paid consistent with wage paid to its workers whereas PTE liability for company is mounted at Rs.2500/- annually.

Documents Required for Registration: 

PTRC And PTEC Acknowledgement of 

1) Online submitted form along with the printout of the originally submitted form
2) Self Attested Copy Of PAN Card
3) Proof of the Constitution of Business
4) Proof of the Residence of the Partners, Director & ProprietorProof of the Place of Business (Address Proof)
5) Blank Cancelled Cheque
6) Shop and Establishment Certificate


             The term 'Directors' for the aim of this entry won't embody the UN agency|one that|one who} ar administrators of the businesses whose registered offices ar located outside the State of geographic area and who aren't residing within the State of geographic area. Rs.2500 once a year
Dealers registered below the geographic area price else Tax Act, 2002 (Mah. IX of 2005) or Dealers registered solely below the Central excise tax Act, 1956 (74 of 1956), whose annual turnover of sales or purchases is rupees twenty five 100000 or less exceeds rupees twenty five lakh Rs.2000 pa Rs.2500 pa

Companies registered below the businesses Act, 2013 and engaged in any profession, trade or occupation. Rs.2500 once a year.

Each Partner of a firm (whether registered or not below the Indian Partnership Act, 1932) engaged in any profession, trade or occupation. Rs.2500 once a year.

Each Co-parcener (not being a minor) of a Hindu Undivided Family, that is engaged in any profession, trade or occupation. Rs.2500 once a year.

Persons, aside from those mentioned in any of the preceding entries WHO ar engaged in any profession, trade occupation or employment and in respect of whom a notification is issued below the second precondition to sub-section (2) of section three. Rs.2500 once a year

A full list of sophistication of persons and corresponding PTEC collectable may be obtained by click

  • Due Date for Payment Of PTEC:

In respect of Persons listed on or before the thirty first May: Tax is to be paid before thirtieth June. In respect of Persons listed once thirty first May: Tax is to be paid among one month of the date of enrollment.

  • Interest Rate:
An interest of one.25% pm shall be levied on delayed payments of skilled Tax.

  • Penalties:

A penalty of 100 percent shall be levied on the number owed just in case of delayed payment. Delay in getting the PTEC Certificate are going to be charged at Rs.2 per day.

  • Exemptions:

Following categories of persons ar exempt from payment of skilled tax:

Persons having completed the age of sixty five years (w.e.f. 1-4-1995); Partnership corporations and HUFs (but every partner of a partnership firm and every coparcener of HUF ar chargeable for enrollment, see Entries nineteen in Schedule 1).

Lump Sum Payment theme for PTEC Holder Persons:

There is a payment payment theme for listed persons. The individual WHO pays Rs. 2,500 Associate in Nursingnually has an choice to pay Rs. 10,000/- for 5 years.