Indian Salary Calculator

Indian Salary Calculator is an easy way to calculate salary for year 2016-2017 and 2017-2018.

Following are the strp to calcluate the indian salary

1. Calculate Gross Salary:
First Calculate the Gross salary. Gross Salary is calculated by subtracting the Employer's contribution Provident Fund contribution(EPF) and Gratuity from Cost to Company(CTC).

Gross Salary = Cost to Company(CTC) - Employer's PF Contribution(EPF) - Gratuity.

2. Calculate Taxable Income: Taxable income is calculated by subtracting Conveyance Allowance, House Rent Allowance(HRA), Leave Travel Allowance(LTA) Professional Tax, Medical Bills, Medical Insurance, Tax Saving Investments .

Taxable Income = Gross Salary - Employee's PF Contribution(PF) - Conveyance Allowance - HRA - LTA - Medical Bills - Medical Insurance - Tax. Saving Investments - Other Deductions.

3. Calculate Income Tax: Calculate Income Tax based on income Tax Slabs and rates.

Following are the INCOME TAX SLAB
2016-2017:

Rs 0 - Rs 2,50,000 0%
Rs 2,50,000 - Rs 5,00,000 10%
Rs 5,00,000 - Rs 10,00,000 20%
Rs 5,00,000 ABOVE 30%

Additioanl TAX:
2% Educational cess and 1% Higher and Secondary cess ON INCOME TAX.


2017-2018

Coming Soon...




4. Calculate Take Home Salary; Subtract the Income Tax, Provident Fund (PF) and Professional Tax from the Gross Salary

Take Home Salary = Gross Salary - Income Tax - Employee's PF Contribution(PF) - Prof. Tax.