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Additional Posts in In Hand Salary Calculation👍
Hi fishes. What should be the inhand salary.

Hi fishes
What will be my in hand salary?

Can anyone tell about monthly in hand salary??

Hii fishes, @

haha bhai jitna jeb me aaya uspe calculate hoga...
Bro it was slab that i wanted know on JB on the structure stated above
1) Your TDS would be deducted as per your current employer compensation. So tax slab would be according to that.
2) For JB, you’ll be taxed extra. For example, if your salary is 75k pm. And JB is 2L. So, you’ll be taxed as if your annual salary is 2.75L * 12. So, the tax on JB will shoot upto 30%.
3) You can always take refund while filing ITR if you have paid any extra taxes.
2.75 × 12 how?
For 6 month
Bro tds deducted = current employer salary * 6 + jb. Whatever slab that comes into
Current salary- 1L
1L*6 = 6L + 4L jb
= 10 L
After deduction= 20% slab
But but
Final tax liability that need to be paid upto March 15 2023
Previous employer + current employer salary + JB
40×6+ 1×6 +4 =12.4 L
May come into 30% or 20% depending on tax saving. HRA, 80C, standard deduction
One important point = taxable salary != inhand salary
When you joined the new company, obviously they don't have idea about form 16 from previous company ( salary drawn ). So they would calculate tax based on new salary : (1L *6+ JB = 6L+JB).
Now in the old company you have recieved salary deducting tax considering your salary drawn as : 40k*6= 2.4L. ( salary slab: 40k*12=4.8L, no tax )
At the end of the year when you file return, you need to submit form 16 from both companies and you see that your total salary drown in a year is : 6L+JB+2.4L which is 8.4L+JB, which is higher than what your second company considered as taxable.
Hence you would have to pay extra while tax return( for 2.4L)