Summary
If you make ₹ 4,839,944 a year living in India, you will be taxed ₹ 1,895,856. That means that your net pay will be ₹ 2,944,088 per year, or ₹ 245,341 per month. Your average tax rate is 39.2% and your marginal tax rate is 56.3%. 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 ₹ 56.25, hence, your net pay will only increase by ₹ 43.75.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 438 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 2,188 of net incomes.