Approx in hand for 12.3 LPA , how much tqlax needs to pay
Got 7% hike for A band . Last CTC was 11.47L and was not paying any tax and now CTC is above 12L how much tax I'll pay ?
Your CTC doesn't mean you are taxable on that amount. You would be having gratuity in it and company health insurance included in it. See by deducting those two components from your CTC . If it is below 12.75 then zero tax. If it is more than that i guess you can start NPS which will reduce you taxable income. I guess we can claim 50k under nps. So if you make your taxable income below 12.75 by doing above then you are eligible for zero tax
Graduatiy, health insurance premium never considered in Tax calculation.Many companies does not show these in CTC as well.Employer PF is tax free upto 7.5 Lac Per annum in new tax return as well.
Your taxable income would be way below 11 lakhs. So,0 tax
The compensation hike that you got now will be calculated for tax only next financial year. Not this financial year. Chill
No taxes till 12.75 LPA.
Nothing to pay. don't worry.
0 tax
You will not be paying any taxes as there is a 75k standard deduction on our CTC which considers your 12.3 CTC as 11.55 which is less than 12.00.
You are only to pay taxes once you exceed CTC 12.75
See the tax calculator in my documents
