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Summary
Indian salary calculations involve choosing between two tax regimes (new and old), each with different slab rates and available deductions. The new regime (default from FY 2023-24) offers lower rates but minimal deductions, while the old regime allows claims for HRA, 80C, 80D, and other exemptions. The calculator computes take-home pay after income tax, Employee Provident Fund (EPF), and professional tax.
How it works
New Tax Regime (FY 2025-26)
| Income slab | Rate |
|---|---|
| Up to Rs 4,00,000 | 0% |
| Rs 4,00,001 - 8,00,000 | 5% |
| Rs 8,00,001 - 12,00,000 | 10% |
| Rs 12,00,001 - 16,00,000 | 15% |
| Rs 16,00,001 - 20,00,000 | 20% |
| Rs 20,00,001 - 24,00,000 | 25% |
| Above Rs 24,00,000 | 30% |
Standard deduction of Rs 75,000 for salaried employees. Section 87A rebate makes income up to Rs 12 lakh (Rs 12.75 lakh for salaried) effectively tax-free.
Old Tax Regime
| Income slab | Rate |
|---|---|
| Up to Rs 2,50,000 | 0% |
| Rs 2,50,001 - 5,00,000 | 5% |
| Rs 5,00,001 - 10,00,000 | 20% |
| Above Rs 10,00,000 | 30% |
Available deductions: Section 80C (Rs 1.5 lakh), 80D (health insurance), HRA exemption, LTA, NPS (80CCD), home loan interest (Section 24), and others.
Other deductions
- EPF: 12% of basic salary (employee contribution), with matching employer contribution
- Professional Tax: varies by state, maximum Rs 2,500/year
- Health and Education Cess: 4% on total income tax
Worked example
CTC: Rs 15,00,000, Basic: Rs 6,00,000, New Regime
- Gross salary: Rs 15,00,000
- Standard deduction: Rs 75,000
- Taxable income: Rs 14,25,000
- Tax: Rs 0 (up to 4L) + Rs 20,000 (4-8L) + Rs 40,000 (8-12L) + Rs 33,750 (12-14.25L) = Rs 93,750
- Cess: Rs 93,750 x 4% = Rs 3,750
- Total tax: Rs 97,500
- EPF (employee): Rs 6,00,000 x 12% = Rs 72,000
- Professional tax: Rs 2,500
- Annual take-home: Rs 15,00,000 - Rs 97,500 - Rs 72,000 - Rs 2,500 = Rs 13,28,000
- Monthly take-home: approximately Rs 1,10,667
Inputs explained
- CTC / Gross salary — total annual compensation
- Basic salary — base component (used for EPF, HRA calculations)
- Tax regime — new or old
- Deductions (old regime) — 80C investments, HRA, insurance premiums, etc.
Outputs explained
- Monthly take-home — net salary credited each month
- Tax breakdown — income tax, cess, EPF, professional tax
- Regime comparison — which regime gives better take-home for your profile
Assumptions & limitations
- The calculator uses the standard CTC structure. Actual salary components (HRA, special allowances, LTA) vary by employer.
- Employer EPF contribution is part of CTC but not taxed as salary income (up to Rs 7.5 lakh combined PF, NPS, superannuation per year).
- Does not model surcharge on high incomes (10-37% on income above Rs 50 lakh).
- Professional tax rates vary by state.
स्रोत
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