Hi,
I would like some help on calculating the income tax for this salary structure.
I have tried a few online tax calculators but its all too confusing for me.
Yearly amounts
Basic: 100000
HRA: 50000
Other Allowances: 200000
Travel Allowance: 10000
Food Allowance: 12000
Medical Insurance: 1500
Employer's contribution to PF: 12000
Total: 385550
Employee's contribution to PF: 12000
Net: 373500
I would like to know which all components here are taxable and how the tax will be calculated. How much would I end up in hand every month?
Many thanks,
Johnny.
I would like some help on calculating the income tax for this salary structure.
I have tried a few online tax calculators but its all too confusing for me.
Yearly amounts
Basic: 100000
HRA: 50000
Other Allowances: 200000
Travel Allowance: 10000
Food Allowance: 12000
Medical Insurance: 1500
Employer's contribution to PF: 12000
Total: 385550
Employee's contribution to PF: 12000
Net: 373500
I would like to know which all components here are taxable and how the tax will be calculated. How much would I end up in hand every month?
Many thanks,
Johnny.