For employees who claim 80C, 80D or HRA and want their take-home under the old tax regime. You get monthly in-hand pay, annual income tax and taxable income after your deductions.
Monthly take-home under the old regime, after your 80C and other deductions.
Include your PF in both the PF field (reduces cash) and the deductions field (80C) for an accurate old-regime estimate.
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You enter
Annual gross salary Rs 12,00,000, Total deductions Rs 1,50,000, Employee PF Rs 0, Professional tax Rs 2,400
The tool shows
Monthly in-hand Rs 90,050; Annual income tax Rs 1,17,000; Annual in-hand Rs 10,80,600; Taxable income Rs 10,00,000
Rs 50,000 for salaried people. The calculator subtracts it automatically, along with the deductions you enter, before applying old-regime slabs.
Yes. PF reduces your cash pay, so it goes in the PF field, and it also counts toward the Rs 1.5 lakh 80C limit, so include it in the deductions field too.
When taxable income after deductions is Rs 5 lakh or less, the rebate of up to Rs 12,500 wipes out the tax. Above that, slab rates of 5, 20 and 30 percent plus 4 percent cess apply.
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