Your take-home pay may be less now!
|
EXISTING |
PROPOSED UNDER BUDGET | |||
|
ACTUAL (Rs.) |
TAXABLE |
ACTUAL (Rs.) |
TAXABLE | |
|
Basic Salary |
25,000 |
25,000 |
25,000 |
25,000 |
|
House Rent Allowance |
10,000 |
10,000 |
10,000 |
10,000 |
|
Special Allowance |
4,000 |
4,000 |
4,000 |
4,000 |
|
Fringe Benefits from Employer |
|
|
|
|
|
Club Membership |
4,000 |
- |
4,000 |
4,000 |
|
Tour and Travel Reimbursement |
5,000 |
- |
5,000 |
5,000 |
|
Hotel / Logding Reimbursement |
2,000 |
- |
2,000 |
2,000 |
|
Personal Conveyance Reimbursement |
10,000 |
- |
10,000 |
10,000 |
|
Gift Vouchers |
2,500 |
- |
2,500 |
2,083* |
|
Monthly CTC |
62,500 |
|
62,500 |
|
|
Annual CTC |
750,000 |
|
750,000 |
|
|
Taxable Salary Per Month |
|
39,000 |
|
62,083 |
|
Income Tax Computation | ||||
|
Total Annual Taxable Salary |
|
468,000 |
|
744,996 |
|
Less: 80C Deduction |
|
100,000 |
|
100,000 |
|
Net Taxable Salary |
|
368,000 |
|
644,996 |
|
Tax on Above (assuming applicable tax slabs) |
|
22,454 |
|
100,424 |
|
Take-home Salary | ||||
|
CTC |
|
750,000 |
|
750,000 |
|
Less: Deductions by payroll |
|
|
|
|
|
Income Tax |
|
22,454 |
|
100,424 |
|
FBT on Fringe Benefits Provided** |
|
27,128 |
|
|
|
Take-home salary |
|
700,418 |
|
649,576 |
|
Take-home pay as a percentage of CTC |
|
93% |
|
87% |
|
* Gifts up to Rs 5,000 P.A. is exempt. | ||||
|
** This is paid by the employer, but the charge is passed on to the employee | ||||
|
|
