How much money hits the bank account for a base salary of 12 and 15 lakhs respectively in Banglore.
I am straight outta clg, asking for me and my friend. Dont know shit about taxes epf gratuity and esops etc, will study about it soon but just wanted to know the figures now so that i can tell it at my home. Thanks Grapeviners and wish u a merry Christmas 🎄.
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Depends on tax structure but just simple math would be:
Remove deductions: 1.5L 80c and 2.5L hra (hopefully you get good hra) = 4L
So for 15-4= 11L is your taxable income
As per old regime,
No tax till 2.5, remaining 8.5L
5% of 2.5L, 12.5k tax, remaining 6L
20% of 5L, 1L tax, remaining 1L
30% of remaining 1l, 30k tax
Total tax = 12.5+100+30= ₹142000~1.5L
So your income becomes 15-1.5L = 13.5L/12 = ₹112500 per month
Ofcourse there are ways to pay less, and also to pay more (less hra or 80c) Cheers
What's better for freshers to choose between old regime or new regime. Also do we have to give taxes for freelancing work(Money directly send to bank by UPI from client). Please tell me.
When I had a base salary of 14,5LPA, I used to get around 1.05L per month after all deductions and taxes. Invested 1.5L in 80C, HRA exemption in old tax regime etc.
80-90k. Also depends on taxes , do basic tax savings early save more .
Divide it by 15 and you will get a bit more than that
What about 8-10lpa??
85ish per month