Monthly tax for a CTC of 40LPA?
What amount of tax will be deducted monthly for a CTC of 40LPA in India? Work location - Chennai.
There's a Dope app called "My Tax". Check that out, fill out all details. You can then optimize on tax based on various parameters
What's dope app? Available on Android. Sorry, because I am not aware.
I meant, there's a good app for this, called "My Tax"
Not sure why work location is called out here. Depending upon your salary structure, and deductions, 22-24% of your ctc should be a safe assumption. Explore the old regime.
Location, because I was not sure if Professional taxes will be different by region. That was the reason.
Will not be more than 250 a month. Shouldnt have an impact
I am getting the same salary and paying around 76k as tax.
Thanks. Old or new regime? What do you hold in your tax saving portfolio? I mean the breakup.
New tax regime
If you have a home loan old regime could be a better option else not worth the hassle imo
No home loans.
Just wanted to be sure. My calculation is 80k in the New regime. I am just assuming the new regime because it's easy and then we know that the old regime will be (-5k) from the new tax regime amount.
Taking all possible deduction (except loan), should be ~80K
Around 70k to 80k
