Income tax calculator India
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
₹ 20,122
Income Tax
- ₹ 5,315
surcharge_india
- ₹ 414
Health and Education Cess
- ₹ 229
Provident Fund (PF)
- ₹ 2,415
Total tax
- ₹ 8,373
Net pay
*
₹ 11,749
Marginal tax rate
69.3%
Average tax rate
41.6%
58.4%
Net pay
41.6%
Total tax
Total tax
Net pay
The Taxberg
₹ 11,749
Net pay
₹ 2,415
Tax the employer pays
₹ 8,373
Tax you pay
Total tax paid
₹ 10,788
Did you know your employer also pays tax on your salary? It costs the employer ₹ 2,415 to pay you ₹ 20,122. In other words, every time you spend ₹ 10 of your hard-earned money, ₹ 5.36 goes to the government.
Real tax rate
47.9%
So, with you and the employer both paying tax, what used to be a 41.6% tax rate now rises to 47.9%, meaning your real tax rate is actually 6.3% higher than what it seemed at first.
Summary
If you make ₹ 5,231,720 a year living in India, you will be taxed ₹ 2,177,001. That means that your net pay will be ₹ 3,054,719 per year, or ₹ 254,560 per month. Your average tax rate is 41.6% and your marginal tax rate is 69.3%. 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 ₹ 69.34, hence, your net pay will only increase by ₹ 30.66.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 307 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 1,533 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.