Hello fishes,
Please help me with my in-hand salary calculation.

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It's a service based company.

And what chocie pay includes, based on that we can say

If you declare HRA and 1.5lpa in 80c you will get somewhere around 125000

You ll get something in the range of 125k-140k depending on what bills you show.

LTA is offered 2 times in 4 yrs that too you have to travel with bills, the next that you can claim travelling in India is 60-70k for 5-6 people in a family. So assuming 70k tax exemption.

HRA: suppose you are paying rent of 20k per month, total comes 2.4 lakhs, 40% of Basic salary = you'll get 1.5-1.6 lakhs exemption

Show bills of Attire allowance:50k exemption

So total exemption: 2.7 lakhs
0-3 lakhs-0
3-5 lakhs-12500
5-10 lakhs- 1 lakhs
10-22 lakhs =12 lakhs-2.7 lakhs= 9.3 lakhs
30% of 9.3 lakhs= 2.8 lakhs

Total tax= 2.8 lakhs+1 lakhs+12500=3.9 lakhs-4 lakhs

So 22-4= 18 lakhs including PF+Gratuity
In hand 16.5 lakhs (1.5 pf+gratuity)
16.5/12=1.37 lakhs in hand for first year
Next year this amount will be 1.3 lakhs bco LTA won't be thr to claim.

All th best

What is choice pay?

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Hope you all are doing well.
Can someone please shed a light on inhand salary as per below structure.

Thanks in advance !

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What's the Inhand salary? details below

Total = 12.44 LPA

Basic + Allowance = Rs. 11.65 LPA
Employer PF(12% of basic) = Rs. 56.7k
Gratuity : Rs. 22k


In hand for 13 LPA ?


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Hey everyone !

Need help to understand this.

Basic: 10,00,000
HRA: 6,00,000

HRA excemption Calc:
1. Provided by Company: 6,00,000
2. 40% of Basic: 4,00,000
3. Rent - 10% of Basic: Rent- 1,00,000

For tax exception, min of these will be considered.

Ques: Can I claim my entire HRA exemption of 4,00,000 (as per option 2) by showing annual rent of 5,00,000 ?
P.S.- I am staying at home with my parents and I can transfer the rent to my parents.

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