Hi,
I have an offer from an employer with Rs. 11,00,000 as my annual CTC, out of which Rs. 88,000 is variable pay paid on a quarterly basis. So, on the Fixed CTC i.e. Rs. 10,12,000, below is the breakup of the salary:
Basic - 42167
HRA - 16867
Conveyance Allowance - 800
PF Employer contribution - 5060
Management Allowance - 19440
Below are my investment details:
House loan principal payment p.a - Rs. 10755
Interest on House loan - Rs. 3,25,000
LIC Premium - Rs. 5000
Medical Insurance (Aviva Lifeshield term insurance) - (self) - Rs. 35600
I would like to request the experts to let me know the tax applicable and my monthly take-home salary. Additionally, please inform me if there are any opportunities for further investments that can help increase my take-home salary.
From India, Chennai
I have an offer from an employer with Rs. 11,00,000 as my annual CTC, out of which Rs. 88,000 is variable pay paid on a quarterly basis. So, on the Fixed CTC i.e. Rs. 10,12,000, below is the breakup of the salary:
Basic - 42167
HRA - 16867
Conveyance Allowance - 800
PF Employer contribution - 5060
Management Allowance - 19440
Below are my investment details:
House loan principal payment p.a - Rs. 10755
Interest on House loan - Rs. 3,25,000
LIC Premium - Rs. 5000
Medical Insurance (Aviva Lifeshield term insurance) - (self) - Rs. 35600
I would like to request the experts to let me know the tax applicable and my monthly take-home salary. Additionally, please inform me if there are any opportunities for further investments that can help increase my take-home salary.
From India, Chennai
The approximate TDS will be Rs. 7541/- per month, please use the Income Tax Calculator to have precise calculation
From India, Ahmadabad
787From India, Ahmadabad
Would appreciate your goodself if you could let us the working for take home salary you calculated
From India, Ahmadabad
From India, Ahmadabad
Hi,
I will give you the exact take-home salary as well as your monthly TDS. In your fixed CTC, some parts are missing. Please provide the exact salary breakup. In your breakup, 9,00,000 Rupees do not match with your fixed CTC.
From India, Mumbai
I will give you the exact take-home salary as well as your monthly TDS. In your fixed CTC, some parts are missing. Please provide the exact salary breakup. In your breakup, 9,00,000 Rupees do not match with your fixed CTC.
From India, Mumbai
Hi Lukesk,
Your take-home per month depends a lot on the day you start your job in a given financial year with respect to the overall CTC. This is due to the fact that the income tax is calculated for the whole year and then deducted every month in equal proportion by the company.
So, if you are looking to get an overall idea about the CTC and its take-home, you should consider evaluating it for a full 12 months, i.e., from 1 April to 31 March. Here is the complete calculation:
Calculate In Hand Or Take Home Salary Calculator For India: AM22 Applications
As per this calculation, your monthly take-home should be approximately 68,203.
You can change the date and then recalculate the take-home salary in the calculator itself.
I assume that you are not going to claim the HRA tax exemption as you would claim the home loan tax benefits.
According to my analysis, you can save tax by investing more in tax-saving investments like PPF, mutual funds, etc.:
You can invest Rs. 23,525 more to take full advantage of tax-free investment to lower your taxes.
You can reduce your yearly tax by Rs. 4,846 if you can invest Rs. 23,525 more in tax-saving investments.
This will increase your monthly in-hand salary by Rs. 440.
Let me know if you need more information.
From India, Delhi
Your take-home per month depends a lot on the day you start your job in a given financial year with respect to the overall CTC. This is due to the fact that the income tax is calculated for the whole year and then deducted every month in equal proportion by the company.
So, if you are looking to get an overall idea about the CTC and its take-home, you should consider evaluating it for a full 12 months, i.e., from 1 April to 31 March. Here is the complete calculation:
Calculate In Hand Or Take Home Salary Calculator For India: AM22 Applications
As per this calculation, your monthly take-home should be approximately 68,203.
You can change the date and then recalculate the take-home salary in the calculator itself.
I assume that you are not going to claim the HRA tax exemption as you would claim the home loan tax benefits.
According to my analysis, you can save tax by investing more in tax-saving investments like PPF, mutual funds, etc.:
You can invest Rs. 23,525 more to take full advantage of tax-free investment to lower your taxes.
You can reduce your yearly tax by Rs. 4,846 if you can invest Rs. 23,525 more in tax-saving investments.
This will increase your monthly in-hand salary by Rs. 440.
Let me know if you need more information.
From India, Delhi
Hi Lukesk,
1. Your take-home per month depends a lot on the day you start your job in a given financial year with respect to the overall CTC. This is due to the fact that the income tax is calculated for the whole year and then deducted every month in equal proportion by the company.
2. So, if you are looking to get an overall idea about the CTC and its take-home, you should consider evaluating it for the full 12 months, i.e., from 1 April to 31 March. Here is the complete calculation: [Calculate In Hand Or Take Home Salary Calculator For India: AM22 Applications](http://goo.gl/fh0gfv). According to this calculation, your monthly take-home should be approximately 68,203.
3. You can change the date and then recalculate the take-home salary in the calculator itself.
4. I assume that you are not going to claim the HRA tax exemption as you would claim the home loan tax benefits.
5. Based on my analysis, you can save tax by investing more in tax-saving investments like PPF, mutual funds, etc.:
- You can invest Rs. 23,525 more to take full advantage of tax-free investment to lower your taxes.
- You can reduce your yearly tax by Rs. 4,846 if you can invest Rs. 23,525 more in tax-saving investments.
- This will increase your monthly in-hand salary by Rs. 440.
Let me know if you need more information.
Thanks a lot, Mr. Anil, that was pretty detailed. With the link you provided here, I am able to find out the exact take-home salary by mentioning the joining date. Appreciate your time.
From India, Chennai
1. Your take-home per month depends a lot on the day you start your job in a given financial year with respect to the overall CTC. This is due to the fact that the income tax is calculated for the whole year and then deducted every month in equal proportion by the company.
2. So, if you are looking to get an overall idea about the CTC and its take-home, you should consider evaluating it for the full 12 months, i.e., from 1 April to 31 March. Here is the complete calculation: [Calculate In Hand Or Take Home Salary Calculator For India: AM22 Applications](http://goo.gl/fh0gfv). According to this calculation, your monthly take-home should be approximately 68,203.
3. You can change the date and then recalculate the take-home salary in the calculator itself.
4. I assume that you are not going to claim the HRA tax exemption as you would claim the home loan tax benefits.
5. Based on my analysis, you can save tax by investing more in tax-saving investments like PPF, mutual funds, etc.:
- You can invest Rs. 23,525 more to take full advantage of tax-free investment to lower your taxes.
- You can reduce your yearly tax by Rs. 4,846 if you can invest Rs. 23,525 more in tax-saving investments.
- This will increase your monthly in-hand salary by Rs. 440.
Let me know if you need more information.
Thanks a lot, Mr. Anil, that was pretty detailed. With the link you provided here, I am able to find out the exact take-home salary by mentioning the joining date. Appreciate your time.
From India, Chennai
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