Summary
If you make ₹ 128,999,988 a year living in India, you will be taxed ₹ 95,765,582. That means that your net pay will be ₹ 33,234,406 per year, or ₹ 2,769,534 per month. Your average tax rate is 74.2% and your marginal tax rate is 88.5%. 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 ₹ 88.50, hence, your net pay will only increase by ₹ 11.50.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 115 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 575 of net incomes.