BouncyDumpling
BouncyDumpling

Tax clarification

What CTC to be targeted for 1LPM

And what is the theory of tax, how to calculate, how to claim etc; anything that helps

I'm too naive on this.....!!

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DancingRaccoon
DancingRaccoon

16 lpa gets you 1lpm in the prev FY 24-25. Now you may need even less with the 12 lakh exemption added. How to calculate? Use cleartax calculator. For claiming ITR you need to file ITR post April for previous FY. Checkout Ankur warikoos video on YouTube for all the nuances on old regime new regime, deductions,exemptions etv

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