WebHey, As you have mentioned that the CTC is 5.5 LPA, then the in-hand salary can be calculated roughly by two ways. Although none of the ways gives you very accurate results but the actual salary will be very close to it. 1. Divide the CTC by 15. S... WebJan 2, 2024 · The new tax regime is different from the old tax regime in three aspects. In the recent Budget, the finance minister has increased the number of slab rates to six. Consequently, the tax rates are now 0%, 5%, 10%, 15%, 20% and 30% in the six slabs. The exemptions and deductions in the Old Regime are not available in the New one.

India In-Hand Salary Calculator (Pay Slips, Monthly Tax) - India

WebHere, you can avail tax deductions up to Rs 1.5 lakh under Section 80C of the Income Tax Act. You can choose to invest in: Employee Provident Fund (EPF): This is a retirement benefit scheme for salaried employees. Here, 12% of the basic salary and Dearness Allowance (DA) is deducted by the employer. This fund is then deposited in government ... Web9 hours ago · If you are not claiming too many deductions, you may want to opt for the new tax regime to save money on taxes. Under the new tax regime, you can claim tax rates of … ims clat coaching centre

India: households by annual income 2024 Statista

WebThis illustration provides a salary calculation for a resident of India earning ₹ 800,000.00 per annum in the 2024/24 Tax Year based on the 2024 Income Tax Slabs. You can read … WebSection 80C allows a maximum deduction up to ₹1.5 lakhs per year from an investor’s total taxable income. Section 80C of the Income Tax Act 1961, along with sections 80CCC and 80CCD, lists a number of financial activities which can reduce your taxable income. Popularly known as 80C deductions these investment and spending actions help you ... WebFeb 1, 2024 · Personal Income Tax: “The new tax rates are 0 to Rs 3 lakhs – nil, Rs 3 to 6 lakhs – 5%, Rs 6 to 9 Lakhs – 10%, Rs 9 to 12 Lakhs – 15%, Rs 12 to 15 Lakhs – 20% and above 15 Lakhs ... lithium seen