Take Home Salary Calculator
Calculate your net salary based on CTC (Cost to Company)
Take home salary is the actual amount you receive after all deductions from your CTC (Cost to Company). This calculator helps you understand your monthly and annual take-home salary based on your CTC and applicable deductions.
New Tax Regime
- Up to ₹3,00,000: Nil
- ₹3,00,001 to ₹6,00,000: 5%
- ₹6,00,001 to ₹9,00,000: 10%
- ₹9,00,001 to ₹12,00,000: 15%
- ₹12,00,001 to ₹15,00,000: 20%
- Above ₹15,00,000: 30%
- Rebate u/s 87A: Up to ₹25,000 for income up to ₹7,00,000
Old Tax Regime
- Up to ₹2,50,000: Nil (₹3,00,000 for Senior Citizens, ₹5,00,000 for Super Senior Citizens)
- ₹2,50,001 to ₹5,00,000: 5%
- ₹5,00,001 to ₹10,00,000: 20%
- Above ₹10,00,000: 30%
- Rebate u/s 87A: Up to ₹12,500 for income up to ₹5,00,000
- Standard Deduction: ₹50,000
Salary Breakdown
Monthly Take Home Salary
Annual Take Home
Total Deductions
| Component | Monthly | Annual |
|---|
Important Notes
- Professional Tax varies by state (typically ₹200/month)
- PF contribution is calculated at 12% of Basic Salary
- Maximum PF contribution is capped at ₹1,800/month
- Basic Salary is typically 40-50% of CTC
Disclaimer: This calculator provides an estimate based on current tax laws. For precise salary planning, please consult your HR department or tax professional.
Take Home Salary Guide & Tutorial
Understanding Take Home Salary
Take home salary is the amount you receive after all statutory deductions from your gross salary. It's important to understand the various components that affect your take home salary to make informed financial decisions.
Salary Components
Your salary consists of various components including basic salary, HRA, special allowance, and other benefits. Each component has different tax implications.
Deductions
Various statutory deductions like income tax, provident fund, professional tax, and other deductions reduce your take home salary.
Understanding Salary Components
| Component | Description | Tax Treatment |
|---|---|---|
| Basic Salary | Core component of your salary | Fully taxable |
| HRA | House Rent Allowance | Partially exempt |
| Special Allowance | Additional benefits | Fully taxable |
| Bonus | Performance incentives | Fully taxable |
How to Calculate Take Home Salary: Step-by-Step
Calculate Gross Salary
Add up all salary components including basic salary, HRA, special allowance, and other benefits.
Calculate Exemptions
Determine tax-exempt components like HRA exemption, transport allowance, etc.
Calculate Deductions
Subtract statutory deductions like PF, professional tax, and other deductions.
Calculate Taxable Income
Subtract exemptions and deductions from gross salary to get taxable income.
Calculate Income Tax
Apply the appropriate tax rates to your taxable income.
Calculate Take Home Salary
Subtract income tax and other deductions from gross salary to get your take home salary.
Frequently Asked Questions
CTC (Cost to Company) is the total cost incurred by the company on an employee, including all benefits and statutory contributions. Take home salary is the amount you receive after all deductions. The difference includes:
- Statutory deductions (PF, ESI, etc.)
- Income tax
- Professional tax
- Other deductions
HRA exemption is the least of:
- Actual HRA received
- 50% of basic salary (for metro cities) or 40% (for non-metro cities)
- Rent paid minus 10% of basic salary
You need to provide rent receipts and PAN of the landlord if rent exceeds ₹1,00,000 per annum.
Common salary deductions include:
- Provident Fund (PF)
- Income Tax
- Professional Tax
- Insurance Premiums
- Loan Repayments
- Other statutory deductions
You can increase your take home salary through:
- Opting for tax-saving investments
- Claiming HRA exemption
- Using transport allowance
- Claiming medical reimbursement
- Using meal coupons
- Opting for tax-saving insurance policies
The new tax regime offers lower tax rates but without most deductions and exemptions. The old regime has higher tax rates but allows various deductions under Chapter VI-A. Choose based on your income level and available deductions.