Income tax calculator India
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
₹ 15,000,960
Income Tax
- ₹ 4,312,788
surcharge_india
- ₹ 646,918
Health and Education Cess
- ₹ 198,388
Provident Fund (PF)
- ₹ 1,800,115
Total tax
- ₹ 6,958,210
Net pay
*
₹ 8,042,750
Marginal tax rate
47.9%
Average tax rate
46.4%
53.6%
Net pay
46.4%
Total tax
Total tax
Net pay
The Taxberg
₹ 8,042,750
Net pay
₹ 1,800,115
Tax the employer pays
₹ 6,958,210
Tax you pay
Total tax paid
₹ 8,758,325
Did you know your employer also pays tax on your salary? It costs the employer ₹ 1,800,115 to pay you ₹ 15,000,960. In other words, every time you spend ₹ 10 of your hard-earned money, ₹ 5.84 goes to the government.
Real tax rate
52.1%
So, with you and the employer both paying tax, what used to be a 46.4% tax rate now rises to 52.1%, meaning your real tax rate is actually 5.7% higher than what it seemed at first.
Summary
If you make ₹ 15,000,960 a year living in India, you will be taxed ₹ 6,958,210. That means that your net pay will be ₹ 8,042,750 per year, or ₹ 670,229 per month. Your average tax rate is 46.4% 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.
NOTE* Withholding is calculated based on the tables of India, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.