1. What is Take Home Salary?

Take home salary (in-hand salary) is the amount an employee receives after all deductions like income tax, provident fund, professional tax, etc. This calculator computes your net salary under India's new tax regime.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Gross Salary — Your total annual salary before any deductions
• Income Tax — Calculated based on new tax regime slabs
• PF — Provident Fund contribution (typically 12% of basic salary)
• Professional Tax — State-specific tax (typically ₹200-₹2,500/year)

3. New Tax Regime Details

New Tax Regime Slabs (FY 2023-24):

• Up to ₹3 lakh: 0%
• ₹3-6 lakh: 5%
• ₹6-9 lakh: 10%
• ₹9-12 lakh: 15%
• ₹12-15 lakh: 20%
• Above ₹15 lakh: 30%

4. Using the Calculator

Instructions: Enter your gross annual salary, PF contribution, and professional tax. The calculator will compute your income tax under new regime and final take-home salary.

5. Frequently Asked Questions (FAQ)

Q1: Should I choose old or new tax regime?
A: New regime has lower rates but fewer deductions. Choose based on your investments and deductions.

Q2: Is PF included in taxable income?
A: Employer's PF contribution (up to 12%) is tax-free. Your contribution is part of 80C deductions (old regime only).

Q3: What's the standard deduction in new regime?
A: ₹50,000 standard deduction is available in new regime from FY 2023-24.

Q4: How is professional tax calculated?
A: Varies by state, typically ₹200/month (₹2,400/year) in most states.

Q5: Are there any cess/surcharge?
A: 4% health and education cess applies on income tax. Surcharge for income > ₹50 lakh.