Income tax calculator India
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
₹ 420,000
Provident Fund (PF)
- ₹ 50,400
Total tax
- ₹ 50,400
Net pay
*
₹ 369,600
Marginal tax rate
12.0%
Average tax rate
12.0%
88.0%
Net pay
12.0%
Total tax
Total tax
Net pay
The Taxberg
₹ 369,600
Net pay
₹ 50,400
Tax the employer pays
₹ 50,400
Tax you pay
Total tax paid
₹ 100,800
Did you know your employer also pays tax on your salary? It costs the employer ₹ 50,400 to pay you ₹ 420,000. In other words, every time you spend ₹ 10 of your hard-earned money, ₹ 2.40 goes to the government.
Real tax rate
21.4%
So, with you and the employer both paying tax, what used to be a 12% tax rate now rises to 21.4%, meaning your real tax rate is actually 9.4% higher than what it seemed at first.
Summary
If you make ₹ 420,000 a year living in India, you will be taxed ₹ 50,400. That means that your net pay will be ₹ 369,600 per year, or ₹ 30,800 per month. Your average tax rate is 12.0% and your marginal tax rate is 12.0%. 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 ₹ 12, hence, your net pay will only increase by ₹ 88.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 880 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 4,400 of net incomes.
Europe
Country
Net pay
Average tax
Rank
United Kingdom
INR 420000
0.0%
1
Germany
INR 420000
0.0%
2
Austria
INR 420000
0.0%
3
Ireland
INR 420000
0.0%
4
Norway
INR 420000
0.0%
5
Spain
INR 393330
6.4%
6
Switzerland
INR 389145
7.4%
7
Italy
INR 381401
9.2%
8
France
INR 379259
9.7%
9
Czech Republic
INR 373800
11.0%
10
Luxembourg
INR 373590
11.1%
11
Russia
INR 365400
13.0%
12
Hungary
INR 342300
18.5%
13
Sweden
INR 341576
18.7%
14
Ukraine
INR 338100
19.5%
15
Poland
INR 329800
21.5%
16
Greece
INR 328233
21.9%
17
Portugal
INR 312690
25.6%
18
Finland
INR 290850
30.8%
19
Belgium
INR 285600
32.0%
20
Denmark
INR 277464
33.9%
21
Netherlands
INR 264270
37.1%
22
Romania
INR 245700
41.5%
23
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Latin America
Country
Net pay
Average tax
Rank
Colombia
INR 413612
7.5%
1
Puerto Rico
INR 386610
8.0%
2
Brazil
INR 381299
9.2%
3
Ecuador
INR 380310
9.5%
4
Guatemala
INR 379728
9.6%
5
Mexico
INR 377857
10.0%
6
Costa Rica
INR 375900
10.5%
7
Panama
INR 373800
11.0%
8
Peru
INR 367500
12.5%
9
Chile
INR 346080
17.6%
10
Uruguay
INR 335580
20.1%
11
Argentina
INR 272867
35.0%
12
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Africa
Country
Net pay
Average tax
Rank
South Africa
INR 414708
1.3%
1
Morocco
INR 377845
10.0%
2
Cameroon
INR 346736
17.4%
3
Ivory Coast
INR 343718
18.2%
4
Kenya
INR 339408
19.2%
5
Mozambique
INR 336558
19.9%
6
Ghana
INR 319804
23.9%
7
Angola
INR 317277
24.5%
8
Zambia
INR 307356
26.8%
9
Senegal
INR 298426
29.0%
10
Uganda
INR 297755
29.1%
11
Nigeria
INR 296149
29.5%
12
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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.