Can someone help with tax calculations ?
I used online tools, which show different tax payables for different websites...
Montly = 1,46,665 Ctc = 17,59,980
How much tax should I pay if this is my salary structure ? For FY 25 -26 under new regime or old regime
Tax Slabs (New Regime): • 0–3L: Nil • 3L–6L: 5% = ₹15,000 • 6L–9L: 10% = ₹30,000 • 9L–12L: 15% = ₹45,000 • 12L–15L: 20% = ₹60,000 • 15L–15.96228L: 30% = ₹2,868
Total tax before cess = ₹15,000 + ₹30,000 + ₹45,000 + ₹60,000 + ₹2,868 = ₹1,52,868 • Add Cess @4% = ₹6,115
Total Tax Payable = ₹1,58,983
Old tax regime you would pay 7k more tax after 80c, HRA and NPS deductions.
So stick to New Tax regime. Old tax regime after deductions still seem huge tax liability.
Thanks @CuriousBangalorean .. your truly from JP Morgan ðŸ«
Tell your org that showing Gratuity under CTC is illegal.
If you leave before 5 yrs, you can file a suit to recover this amount from them.
Believe me you will win....
Regarding your question, login to income tax e-filing site and use their calculator.
It's finally IT who will take final call on your taxes and not some random website.
I didn't want to trouble myself @WillieGarvin. I will ask for increases fixed instead
