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It would be a better practice to deduct PT monthly from the employee's salary. Remittance to the state government will be based on your state. Which state do you belong to? Does your state allow monthly PT remittance?
If in your state PT is to be deposited half-yearly, the consolidated PT deducted from the monthly salary will be deposited.
From India, Mumbai
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If in your state PT is to be deposited half-yearly, the consolidated PT deducted from the monthly salary will be deposited.
From India, Mumbai
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As our seniors suggested, PT is a monthly payout as per state government rules. I didn't find any half-yearly and annual payments except for Managing Partners. So, the best thing to do is to deduct it on a monthly basis as per state government policy.
From India, Vijayawada
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From India, Vijayawada
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Hi Nandini, I think you're from TN, if that's correct. As our seniors suggested, PT is a monthly payout as per TN state government rules. I didn't find any half-yearly and annual payments except for Managing Partners. So, the best thing to do is to deduct on a monthly basis as per state government policy as shown below:
Monthly salary and tax deductions
Monthly salary (in Rs.) Tax (in Rs. Per month)
Up to Rs.3,500 - Nil
Rs.3,501 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
Please review and let me know if you need any further clarification.
From India, Vijayawada
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Monthly salary and tax deductions
Monthly salary (in Rs.) Tax (in Rs. Per month)
Up to Rs.3,500 - Nil
Rs.3,501 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
Please review and let me know if you need any further clarification.
From India, Vijayawada
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PT has to be deducted and paid monthly. However, in the case of PT returns, if your annual deduction of PT exceeds 50,000 rupees, you need to file a monthly PT return. If your annual deduction of PT is below 50,000 rupees, then a yearly PT return is sufficient.
Regards, Arun
From India, Hyderabad
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Regards, Arun
From India, Hyderabad
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In Tamilnadu, PT is deducted half yearly from the salaries.
From India, Salem
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From India, Salem
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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
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From India, Bangalore
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Copy of Profession-Tax- State-Wise.xls
PT-AP-Professio n-Tax-Amendment 2013 Notified.pdf