Summary
If you make ₹ 1,520,000 a year living in India, you will be taxed ₹ 461,640. That means that your net pay will be ₹ 1,058,360 per year, or ₹ 88,197 per month. Your average tax rate is 30.4% and your marginal tax rate is 43.2%. 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 ₹ 43.20, hence, your net pay will only increase by ₹ 56.80.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 568 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 2,840 of net incomes.