Summary
If you make ₹ 172,199,040 a year living in India, you will be taxed ₹ 133,993,711. That means that your net pay will be ₹ 38,205,329 per year, or ₹ 3,183,777 per month. Your average tax rate is 77.8% 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 ₹ 88.49, hence, your net pay will only increase by ₹ 11.51.
Bonus Example
A ₹ 1,000 bonus will generate an extra ₹ 115 of net incomes. A ₹ 5,000 bonus will generate an extra ₹ 576 of net incomes.