Summary
If you make ₹ 23,691,980 a year living in India, you will be taxed ₹ 11,839,160. That means that your net pay will be ₹ 11,852,820 per year, or ₹ 987,735 per month. Your average tax rate is 50.0% and your marginal tax rate is 51.0%. 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 ₹ 51, hence, your net pay will only increase by ₹ 49.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 490 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 2,450 of net incomes.