Hello Everybody,
I am working in a Pvt Ltd company as a Team Leader. Basically its a Export oriented unit. My annual salary is Rs 1,56,000/- Can any one let me know what should be the break up of my salary shown in the salary slip and also make sure that my salary does not fall in to Tax Bracket.
Awaiting reply
thank you, :)
Umesh
From India, Ahmadabad
I am working in a Pvt Ltd company as a Team Leader. Basically its a Export oriented unit. My annual salary is Rs 1,56,000/- Can any one let me know what should be the break up of my salary shown in the salary slip and also make sure that my salary does not fall in to Tax Bracket.
Awaiting reply
thank you, :)
Umesh
From India, Ahmadabad
Kindly find attached the Tax Calculator which will be of some use to you,,, Regards MPMS :D :D :D
From India, Coimbatore
733From India, Coimbatore
Very informative. Thanks a lot for your contribution (this and all other articles) to Cite HR. Members like you are really looked up to by most of Cite HR users Regards, Rune
From India, Madras
From India, Madras
hi Umesh
For male there is no tax till income 1,50,000rs.
10% from 150000- 300000
20% from 300000- 500000
and 30% from 500000 and above
so basically the tax is calculated on your net take home and not on your CTC.
so fist calculate your take home for the whole yr and then if it is more then 150000 then you are liable to pay the tax.
Also if you pay professional tax or PF then muliply that amount by the 12(no. of months in a yr) and then deduct that amount from your total take home. now whatever the income remains you pay the tax based on that.
regards
Nicks
For male there is no tax till income 1,50,000rs.
10% from 150000- 300000
20% from 300000- 500000
and 30% from 500000 and above
so basically the tax is calculated on your net take home and not on your CTC.
so fist calculate your take home for the whole yr and then if it is more then 150000 then you are liable to pay the tax.
Also if you pay professional tax or PF then muliply that amount by the 12(no. of months in a yr) and then deduct that amount from your total take home. now whatever the income remains you pay the tax based on that.
regards
Nicks
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Salary-Note.doc
SALARY SHEET CALCULATION.xls