Objectives:

The Madhya Pradesh Professional Tax Act, 1995 serves as the governing legislation. It governs the levy in Madhya Pradesh, and fresh modifications are always being made to the system. The state has made the tax more equal by easing the burden on lower-income taxpayers. Under the direction of the Madhya Pradesh Vritti Kar Adhiniyam and Niyam, 1995.

Applicability:

It is applicable on Employers taking taxes out of workers' paychecks. People who work for themselves (professionals, traders, contractors)

Key Provisions:

1. It is applied according to employment type.

2. All the individuals paying the PT should obtain the registration or enrolment.

3. Monthly return will be on every 10th of the month and for quarterly it starts on 15th Jan for every 3 months.

4. Registered individual should submit the periodic returns along with challan.

5. It is liability of employer to pay the PT on the behalf of employees.

Penalties and Compliance:

1. Late filing of return led to Rs. 5 per day up to 500.

2. Late and non-payment led to 2% per month and max 2/3 of tax due.

3. Delayed registration led to Rs. 5 per day.

4. It is responsibility of employer to pay the PT timely.

5. File the return and challan.

Recent Amendments