Hello Navneet,
There are some details required to devise a tax friendly CTC structure.
1) Where do you stay (which city) ?
2) Do you stay in a rented accomodation ? If yes, how much rent do you pay monthly ?
3) Do you have a housing loan ? If yes, how much is the interest payout per month ?
Once you furnish the answers, we can work out a structure which will tentatively help you save paying more tax. It can result into nil tax if you are in a position to do the investment u/s 80C and the mediclaim for self & parents. There is an LTA component which too can help you.
Cheers, A.B.