Summary
If you make ₹ 20,908,333 a year living in India, you will be taxed ₹ 10,366,598. That means that your net pay will be ₹ 10,541,735 per year, or ₹ 878,478 per month. Your average tax rate is 49.6% and your marginal tax rate is 59.9%. 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 ₹ 59.94, hence, your net pay will only increase by ₹ 40.06.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 401 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 2,003 of net incomes.