Summary
If you make ₹ 12,920,020 a year living in India, you will be taxed ₹ 5,961,856. That means that your net pay will be ₹ 6,958,164 per year, or ₹ 579,847 per month. Your average tax rate is 46.1% and your marginal tax rate is 47.9%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of ₹ 100 in your salary will be taxed ₹ 47.88, hence, your net pay will only increase by ₹ 52.12.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 521 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 2,606 of net incomes.