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 which is 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 is 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
Requesting experts to let me know what will the tax applicable and my monthly take home salary.
And also please let me know is there any scope for further investments that can help me in increasing 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 which is 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 is 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
Requesting experts to let me know what will the tax applicable and my monthly take home salary.
And also please let me know is there any scope for further investments that can help me in increasing 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
734From 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 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 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 full 12 months i.e. from 1 April to 31 march and 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 approx. 68,203.
3. You can change the date and then re-calculate 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. As per my analysis, you can save tax by investing more in the tax saving investments like PPF, mutual funds etc.:
You can invest Rs. 23525 more to take the full advantage of tax free investment to lower your taxes.
You can reduce your yearly tax by Rs. 4846 if you can invest 23525 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
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 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 full 12 months i.e. from 1 April to 31 march and 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 approx. 68,203.
3. You can change the date and then re-calculate 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. As per my analysis, you can save tax by investing more in the tax saving investments like PPF, mutual funds etc.:
You can invest Rs. 23525 more to take the full advantage of tax free investment to lower your taxes.
You can reduce your yearly tax by Rs. 4846 if you can invest 23525 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
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