is pt monthly deduction best or half yearly
From India, Karur
Glidor
616

PT is based on monthly payout, so deducted and paid to state govt monthly

It will be better practice to deduct PT Monthly from the employee's salary.
Remittance to state govt will be based on your state. Which state you belong to? Does your state allow monthly PT remittance?
If in your state PT is to be deposited half yearly, consolidated PT dedcted from monthly salary will be deposited

From India, Mumbai
Anonymous
Hi Nandini,
As our seniors suggested PT is monthly payout as per state government rule I didn't find any half yearly and annual payments excepts(Managing Partners).
So best to do is deducted on monthly basis as per state government policy .

From India, Vijayawada
Hi Nandini,
I think your from TN if its right
As our seniors suggested PT is monthly payout as per TN state government rule I didn't find any half yearly and annual payments excepts(Managing Partners).
So best to do is deducted on monthly basis as per state government policy as below.
Monthly salary (in Rs.) Tax (in Rs. Per month)
Up to Rs.3,500-Nil
Rs.3,5001 to Rs.5,000-Rs.22.5
Rs.5,001 to Rs.7,500-Rs.52.5
Rs.7,501 to Rs.10,000-Rs.115
Rs.10,001 to Rs.12,500-Rs.171
Above Rs.12,500-Rs.208

From India, Vijayawada
Dear Nandini,
PT has to be deducted and paid monthly.
but in case of PT return....
If your annual deduction of PT crosses 50,000 rupees you need to file monthly PT return.
if your annual deduction of PT is below rupees 50,000 then yearly PT return.
Arun

From India, Hyderabad
In Tamilnadu, PT is deducted half yearly from the salaries.
From India, Salem
Depends on state rules. For Tamil Nadu, except Chennai Corporation, for other regions, it is half yearly. This state wise information may help you. https://knowledge.greythr.com/displa...ax+Slabs+India
From India, Bangalore
Profession tax is due monthly halfyearly etc . In Tamilnadu where I come from it is payable halfyearly. In my view it is better to collect monthly so employees don t feel the pinch Aswath Hari
From India, Chennai

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service





All rights reserved @ 2021 Cite.Co™

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server