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February 2011

Mandatory e-returns for employers registered under Profession Tax Act, 1975 —Trade Circular 1T of 2011 under Profession Tax, dated 14-1-2011.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
Reading Time 1 mins
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Part B : INDIRECT
TAXES


MVAT UPDATE

43 Mandatory e-returns for
employers registered under Profession Tax Act, 1975 —Trade Circular 1T of 2011
under Profession Tax, dated 14-1-2011.

By this Circular, e-service
of filing e-returns for registered employers (PTRC holders) has been introduced.

By Notification issued on
26-11-2010 it was provided that from 1-2-2011, every PTRC holder whose tax
liability during the previous year was rupees twenty thousand or more shall
mandatorily file electronic return.

PTRC holders, eligible to
file quarterly or annual returns, may get themselves enrolled and file e-returns
voluntarily.

Detailed procedures for
enrolment for PTRC e-services and procedure for uploading PTRC e-returns are
explained in the Circular.

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