How much TDS will be deducted if my fixed salary is 25000 per month?

Therefore, the final TDS to be deducted on your yearly income is Rs. 25,000 + Rs. 26,600, which comes to Rs. 51,600 for current year’s income, or Rs.

How do I calculate tax on my salary in Excel?

Write the formula =B2-B3-B4 inside the formula bar and press the Enter key. Step 4: Taxable income is now extracted from gross income, which is 2,19,000. “Taxable income is on which we apply the tax.” “Tax is 5\% on income below 2,50,000.” As the taxable value is between 1.5 to 2.5 lakhs so that 5\% will apply to income.

How much tax do I pay on 25 lakhs?

Assessing your Tax Slab For a salary ranging between Rs 20 lakhs and Rs 25 lakhs, the applicable tax rate under the new tax regime would be the highest, that is 30\%. Incidentally, this is the same tax slab that your salary would fall under according to the existing tax regime, that is 30\%.

What is the difference between CTC and taxable income?

There’s also a provision for income tax rebate for excess tax paid and TDS for advance deduction of tax. You can read about them as well. CTC means the cost of an employee to a company. Tax is calculated on Taxable Income, not on CTC. The gross salary is less than CTC.

What is the CTC amount for a salary of 3252480?

*The CTC is ~Rs.40 lakh & does not consider medical insurance or any variable component. Now, your yearly pre tax in hand salary comes to be Rs. 3252480. Again, assuming you do not do any tax savings other than PF contribution, nor claim HRA; absolutely nothing is done to save tax. Here is the tax calculations: Hope it helps.

How much CTC can I claim after employer EPF deduction?

Your gross income that you receive can be around 85\% of CTC. So you would receive INR 765,000 after employer EPF deduction or INR 63,750 per month before deducting your EPF contribution.

What is grade-Grade allowance in CTC?

Grade allowance – taxable allowance as indicated by the employer but not specified how much. For FY-2020–21 if your CTC is Rs.18 LPA (Fixed) then your approximately tax to be paid will be with investments as under: As per old tax regime you have pay Rs.5,710/- approx per month.