Moneyjigyasu.

com- Guide on how to

Please read this guide and terms of usage to use this calculator-
1. This tool covers following CTC components:
1. Basic Salary (Include Dearness Allowance if any)
2. House Rent Allowance
3. Provident Fund (Employer's Contribution)
4. Conveyance Allowance
5. Medical Allowance
6. Telephone Allowance / Reimbursement (Enter only if included in CTC)
7. Leave Travel Allowance
8. Meal Vouchers e.g. Sodexo coupons
9. Children Education Allowance
10. Car Running Allowance - Petrol and Driver Salary Reimbursement
11. Special Allowance
12. Any other Allowance* (will be assumed to be taxable)
13. Gratuity (Enter only if included in CTC)

If any of the above components i.e. variable, gratuity etc. is not a part of your CTC, simply en
Note: This tool covers the normal CTC components for private sector employees and may not be u

2. IMPORTANT GENERAL GUIDANCE- PLEASE READ THIS

YOU NEED TO FILL ONLY THE "INPUT SHEET"
REMAINING SHEETS ARE ONLY FOR REFERENCE AND WILL BE AUTO-POPULATED.
YOUR TAKE HOME SALARY CAN BE ESTIMATED ONLY IF YOU FILL ALL THE RELEVANT D
CLICK HERE TO CHECK TAKE HOME SALARY- ONCE YOU HAVE FILLED INPUT SHEE

Important Terms of Usage: The calculator is for reference and educational purpose only and not pr
in making this calculator as accurate as possible, there may be inadvertent errors, deviations in ind
your specific case.If you have any doubts or queries, please mention in the comments section on o
"CTC to Take Home Calculator-Query".

3. GUIDANCE ON HOW TO FILL INPUT SHEET

COLOR CODE FOR CELLS IN INPUT SHEET

For cells in this color, you need to enter data or change the amount as per your actual figures.
Cells in this color are auto-calculated and not editable

A. DETAILS OF SALARY AS PER CTC LETTER

Please fill the details exactly as per your offer letter. In case any component mentioned is not in the CTC, s
For "Any other allowance", that is not mentioned in the our CTC break up, enter the total of these allowanc
In case these other allowances are exempt, please enter the amount of tax exemption manually.
B. OTHER DETAILS - SALARY
Any deductions from salary: Enter any amount deducted from your salary e.g. if the company deducts a

Variable Amount actually received: Variable amount i.e. performance bonus mentioned in your offer lett
expected to be received at the end of the year / quarter. For convenience sake, it is assumed to be the sam
C. SELECT YOUR TAX SCHEME
Select the scheme to be used i.e. NEW or OLD. In the new scheme which is introduced as optional from F
scheme, you will also not get any benefit of exemptions like HRA, LTA etc. and further not get any deductio
80D, 80E etc. So generally it is not advisable to go for New Scheme unless you don't get any benefit from
But you can see for yourself using this calculator, which scheme "NEW" or "OLD" gives you a higher take

D. DETAILS OF EXEMPTIONS
HRA: You can claim a deduction for the rent paid for your accomodation i.e. only residential purpose. Plea
metro in "HRA Exemption Calculator". If you don’t pay any rent, simply enter the Rent paid as 0. HRA Exe
not editable

Important Note: For below mentioned exemptions, your claim is assumed to be equal to the full amount a
in Section D of Input sheet by estimating what you actually claim.

Children Education Allowance: If you have this component in CTC, You can claim a deduction for this co
allowed Rs. 300 per month per child-Max 2 children)

Leave Travel Allowance: If you have this component in CTC, you can claim a tax deduction for your dom
supporting air ticket / railway ticket / road trip receipt proof to your employer with the claimed amount.

Mobile / telephone expense reimbursement: If you have this component in your CTC, You can claim tax
the actual bills to your employer.

Meal Vouchers i.e. Sodexo/Food Cards: If you have this component in CTC, you can claim a deduction
2600/- per month assuming 26 working days

Conveyance Allowance/Medical Allowance- Conveyance allowance was tax free to extent of Rs.1600/-
allowance was tax-free upto Rs.1,250 per month (Rs.15,000/- per year) for your medical expenses. Howev
deduction of Rs.50,000/- annually in lieu of Conveyance and Medical Allowance. However, many compan
these allowances although there is no separate tax benefit for them.

Car Running/ Petrol Reimbursement: You can claim a deduction for the petrol expenses for your car ow
purpose, then petrol reimbursement is limited to Rs.2400/- per month (XX CC Car) or Rs. 1800 per month
E. DETAILS OF OTHER INCOME AND INTEREST PAID ON HOUSE PROPERTY:
Enter any income you have declared to your employer like interest on bank savings account, rental income
In case you are paying interest on your self occupied house property, enter the annual interest amount on
rented out, there is no such limit.
F. DETAILS OF INVESTMENTS / EXPENSES FOR DEDUCTIONS:
We have covered only the major sections here which are more popular and frequently used
80C-Enter the eligible investments under section 80C like ELSS MF, NSC, PPF etc or eligible expenses lik
automaticaly added under 80C.
80D-Enter mediclaim premium paid by you for your spouse, childrent and parents
80E- Enter interest paid for any education loan for own (Self) education
80EEB- Enter interest paid for any loan taken for purchase of electric vehicle
CLICK HERE TO CHECK TAKE HOME SALARY- ONCE YOU HAVE FILLED INPUT SHEE
 Moneyjigyasu.com- Input Sheet
Important: Please fill all the details in the input sheet.
All remaining sheets are auto-calculated based on the Input Sheet and do not need any data to be input.
Particulars
A. Enter Details of Salary as per your Offer Letter
1. Basic Salary (Include Dearness Allowance if any)
2. House Rent Allowance
3. Provident Fund (Employer's Contribution)
4. Conveyance Allowance
5. Medical Allowance
6. Telephone Allowance / Reimbursement (Enter if included in CTC)
7. Leave Travel Allowance
8. Meal Vouchers e.g. Sodexo/Food cards
9. Children Education Allowance
10. Car Running Allowance - Petrol and Driver Salary Reimbursement
11. Special Allowance
12. Any other Allowance* (will be assumed to be taxable)
13. Gratuity (Enter only if included in CTC)
Fixed CTC as per Offer Letter

moneyjigyasu.com
14. Variable Amount in CTC
Total CTC
B. Enter Other Details-Salary
Particulars
1. Any deductions from Salary (e.g. transport, lunch)

2. Variable Amount (actually received at end of the year)

C. Are you Opting for New or Old (Traditional) Tax Regime -Select as per your choice

D. Enter Details of your Claims for Expenses i.e. exemptions

HRA Claim (if you stay in rental accomodation)
Is rental accomodation in metro city (Mumbai, Chennai, Delhi, Kolkata)?
Rent paid monthly

Children Education Allowance (Expenses Claimed)

LTA claimed/reimbursed against bills

Telephone Reimbursement Claims

Food Card / Sodexo Coupons Claimed

Car Running & Maintenance Claims (petrol reimbursement etc.)

Any other exemptions
E. Enter Details of any Other income Declared to Employer and Interest paid on House property
Any Other Income (Interest on saving account, rental income etc.)
Interest paid on self occupied house property (Max INR 2 lakhs under Section 24)
Note: For an affordable house property i.e Stamp Duty value upto INR 45 lakh, you can claim additional
amount upto INR 1.5 lakh if interest paid exceeds INR 2 lakhs, enter eligible amount under section
80EEA)
F. Enter Details of Investments / Deductions
U/s 80 C- Investments (total deduction limit up to Rs. 150,000/-)
Employees PF contribution (same as employer contribution usually- Cell B8)
Others (LIC Premium/ ELSS/ Tution Fees / NSC, Home Loan Principal Repayment etc.)

U/s 80CCD- Contribution to NPS or Atal Pension Yojana (up to Rs. 50,000/- in addition to
80C)

U/s 80 D- Mediclaim / Health Insurance

Mediclaim Premium-Self, Spouse and Children (+ Preventive Health Check up max upto 5,000
p.a)
Mediclaim Premium-Parents (+ Preventive Health Check up max upto 5,000 p.a)

U/s 80DD (Medical treatment of handicapped dependent)

U/s 80DDB (Medical treatment for specified diseases self/dependent)

U/s 80E (Interest on Education Loan)

U/s 80EEA (Additional deduction for interest exceeding INR 2 lakhs under section 24
subject to conditions of affordable house property 80EEA )

U/s 80EEB (Interest on Loan for Purchase of Electric Vehicle-Maximum-Rs.1,50,000)

U/s 80G (Donations to approved organisations)

U/s 80GG (Deduction for Rent when no HRA component in CTC Max Rs. 60,000 p.a)

U/s 80U (Physical disability)

U/s 80TTA (Interest on saving bank account is tax free upto Rs.10000/- p.a)

Any other deduction

CLICK HERE TO CHECK TAKE HOME SALARY- ONCE YOU HAVE FILLED INPUT SHEE
Important Terms of Usage: The calculator is for reference and educational purpose only and not profession
calculator as accurate as possible, there may be inadvertent errors, deviations in individual cases and take
doubts or queries, please mention in the comments section on our website or shoot a mail to newsletter@m
be input.
Monthly Annual

₹ 101,250 ₹ 1,215,000
₹ 40,500 ₹ 486,000
₹ 8,100 ₹ 97,200
₹0 ₹0
₹0 ₹0
₹0 ₹0
₹0 ₹0
₹0 ₹0
₹0 ₹0
₹0 ₹0
₹ 71,903 ₹ 862,836
₹0 ₹0
₹ 3,247 ₹ 38,964
₹ 225,000 ₹ 2,700,000
₹0
₹ 2,700,000

Monthly Annual
₹0 ₹0

NA ₹0

OLD

No
₹ 8,333 ₹ 99,996

₹0

₹0

₹0

₹0

₹0
 ₹0
roperty Annual Amt
₹0

₹0
Annual Amt

₹ 97,200
₹ 52,800

₹ 50,000

₹ 9,000
₹0

₹0
₹0

₹0

₹0

₹0

₹0

₹0

₹0

₹ 10,000

₹0
and not professional or legal advice for taking decisions. Although care has been taken in making this
ual cases and take home figure is only an estimate, which can vary for your specific case.If you have any
ail to newsletter@moneyjigyasu.com with subject "CTC to Take Home Calculator-Query".
Note:
For cells in this color, change the amount or enter amount as per your actual figures.
Cells in this color are auto-calculated and not editable

CLICK HERE TO CHECK TAKE HOME SALARY- ONCE YOU HAVE FILLED INPUT SHEET COMPLETELY

Click here for guidance on dos & donts for HRA exemption

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Click here for guidance. Please change the amount as per your actual amount.

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Click here for guidance. Please edit amount as per your actual figures.

Assumed to be fully claimed. Pls change amount as per actual figures claimed.

Assumed to be fully claimed. Pls change amount as per actual figures claimed.

Assumed to be fully claimed. Pls change amount as per actual figures claimed.

Assumed to be fully claimed. Pls change amount as per actual figures claimed.

Assumed to be fully claimed. Pls change amount as per actual figures claimed.
Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

Please edit amount as per your actual figures

advice for taking decisions. Although care has been taken in making this
re is only an estimate, which can vary for your specific case.If you have any
su.com with subject "CTC to Take Home Calculator-Query".
 MONEYJIGYASU.COM
CTC to Take Home Calculator
Particulars Monthly Annual Component Taxability- Old Regime
1. Basic Salary (Include Dearness Allowance if any) ₹ 101,250 ₹ 1,215,000 Fully Taxable
2. House Rent Allowance ₹ 40,500 ₹ 486,000 Exemption allowed
3. Provident Fund (Employer's Contribution) ₹ 8,100 ₹ 97,200 Fully Exempt
4. Conveyance Allowance ₹0 ₹ 0 Fully Taxable
5. Medical Allowance ₹0 ₹ 0 Fully Taxable
6. Telephone Allowance / Reimbursement ₹0 ₹ 0 Exemption allowed
7. Leave Travel Allowance ₹0 ₹ 0 Exemption allowed
8. Meal Vouchers e.g. Sodexo/Food cards ₹0 ₹ 0 Exemption allowed
9. Children Education Allowance ₹0 ₹ 0 Exemption allowed
10. Car Running & Maintenance Allowance - Reimbursement ₹0 ₹ 0 Exemption allowed
11. Special Allowance ₹ 71,903 ₹ 862,836 Fully Taxable
12. Any other Allowance* ₹0 ₹ 0 Fully Taxable
13. Gratuity (only if included in CTC) ₹ 3,247 ₹ 38,964 Fully Exempt
Fixed CTC (A)
14. Variable Amount
moneyjigyasu.com ₹ 225,000 ₹ 2,700,000
₹0
Total CTC (B) ₹ 2,700,000
Less:
Not paid in cash
PF (Employer's contribution) ₹ 8,100 ₹ 97,200
PF (Employee's contribution) ₹ 8,100 ₹ 97,200
Others
Variable Portion ₹ 0 Actual expected Variable amount added below
Gratuity ₹ 3,247 ₹ 38,964 Paid only after 5 years of service
Deductions
Profession Tax ₹ 200 ₹ 2,500
Other Deductions (if any i.e. Transport charges etc.) ₹0 ₹0
TDS on fixed salary ₹ 44,364 ₹ 532,366
Deductions (C) ₹ 64,011 ₹ 768,230

Estimated Take Home Salary considering fixed components [D = (B-C) ] ₹ 160,989 ₹ 1,931,770
% Fixed Take Home Salary (D) / Fixed CTC (A) 72% Ratio of your Take Home Salary to Fixed CTC
(excluding variable element)
Add: Variable Amount (actually received) [1] ₹0
 Moneyjigyasu.com- HRA Exemption Calculator

Is rental accomodation in metro city (Mumbai, Chennai, Delhi, Kolkata)? No

Particulars Monthly Annual

Rent paid ₹ 8,333 ₹ 99,996
Basic Salary ₹ 101,250 ₹ 1,215,000
HRA Exempted Amount (per month)
50% of Basic Salary (if Metro)
moneyjigyasu.com ₹ 40,500 ₹ 486,000
Rent paid - 10% of Basic Salary + DA ₹ -1,792 ₹ -21,504
HRA actually received ₹ 40,500 ₹ 486,000
Amount of HRA Exempted ₹0 ₹0

Terms of usage: The calculator is for reference and educational purpose only and not professional or
legal advice for taking decisions. Although care has been taken in making this calculator as accurate as
possible, there may be deviations in individual cases and take home figure is only an estimate, which can
vary for your specific case.If you have any doubts or queries, please mention in the comments section on
our website or shoot a mail to newsletter@moneyjigyasu.com with subject "CTC to take home
Calculator-Query".
Note: Please fill 'input sheet' only. This sheet is auto-filled
Moneyjigyasu.com (Old Tax Slabs)Income Tax (TDS) Calculator for Financial Year 20

Particulars
Excluding
Variable
Gross Salary Before Exemptions ₹ 2,602,800
Less: Exempt Allowances
HRA Exemption ₹0
Telephone Reimbursement ₹0
LTA claimed against bills ₹0
Meal Vouchers/Food Card Expenses ₹0
Children Education Allowance Claim ₹0
Petrol Reimbursement Claim ₹0
Any other exemptions ₹0 ₹0
Net Salary
moneyjigyasu.com
Less: Deductions from Salary
₹ 2,602,800

Standard Deduction ₹ 50,000

Profession Tax ₹ 2,500 ₹ 52,500
Net Taxable Salary (A) ₹ 2,550,300
Add: Other Income (B) ₹0
Less: Interest paid on Self Occupied House Property (C) ₹0
Gross Total Income (A) + (B) - (C') ₹ 2,550,300
Less: Deductions from Gross Total Income
U/s 80 C
Employees PF contribution ₹ 97,200
Others ₹ 52,800 ₹ 150,000
U/s 80CCD (if over above 80C limit) ₹ 50,000

U/s 80 D
Mediclaim Premium-Self, Spouse and Children ₹ 9,000
Mediclaim Premium-Parents ₹0 ₹ 9,000

U/s 80 DD (Medical treatment of handicapped dependent) ₹0

U/s 80DDB (Medical treatment for specified diseases self/depen ₹0
U/s 80E (Interest on Education Loan) ₹0
U/s 80EEA (Additioanl Interest deduction for affordable house p ₹0
U/s 80EEB (Interest on Loan for purchase of Electric Vehicles) ₹0
U/s 80G (Donations to approved organisations) ₹0
moneyjigyasu.com
U/s 80GG (Rent in case of no HRA component in CTC) ₹0
U/s 80U (Physical disability) ₹0
U/s 80TTA (Interest on saving bank account) ₹ 10,000
Any other deduction ₹0
Total Deductions ₹ 219,000

Taxable Income ₹ 2,331,300

Tax Payable on Total Income ₹ 511,890
Less: Section 87A ₹0
Net Tax Payable after Section 87A relief ₹ 511,890
Add:  Surcharge ₹0
Add:  Cess 20,476
Total Tax Payable 532,366
Monthly TDS (approx.) 44,364

Terms of usage: The calculator is for reference and educational purpose only and not professional or
legal advice for taking decisions. Although care has been taken in making this calculator as accurate as
possible, there may be deviations in individual cases and take home figure is only an estimate, which can vary for
your specific case.If you have any doubts or queries, please mention in the comments section on our website or
shoot a mail to newsletter@moneyjigyasu.com with subject "CTC to take home Calculator-Query".
 Note: Please fill 'input sheet' only. This sheet is auto-filled
tor for Financial Year 2020-21 (Assesment Year 2021-22)

Including
Variable
₹ 2,602,800

₹0
₹ 2,602,800

₹ 52,500
₹ 2,550,300
₹0
₹0
₹ 2,550,300

₹ 150,000
₹ 50,000

₹ 9,000

₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹ 10,000
 ₹0
₹ 219,000

₹ 2,331,300
₹ 511,890
₹0
₹ 511,890
₹0
20,476
532,366
44,364

and not professional or

alculator as accurate as
an estimate, which can vary for
nts section on our website or
culator-Query".
Moneyjigyasu.com (New Tax Slabs)Income Tax (TDS) Calculator for Financial Year 20

Particulars
Excluding
Variable
Gross Salary Before Exemptions ₹ 2,602,800
Less: Exempt Allowances
HRA Exemption ₹0
Telephone Reimbursement ₹0
LTA claimed against bills ₹0
Meal Vouchers/Food Card Expenses ₹0
Children Education Allowance Claim ₹0
Petrol Reimbursement Claim ₹0
Any other exemptions ₹0 ₹0
Net Salary moneyjigyasu.com ₹ 2,602,800
Less: Deductions from Salary
Standard Deduction ₹0
Profession Tax ₹0 ₹0
Net Taxable Salary (A) ₹ 2,602,800
Add: Other Income (B) ₹0
Less: Interest paid on Self Occupied House Property (C) ₹0
Gross Total Income (A) + (B) - (C') ₹ 2,602,800
Less: Deductions from Gross Total Income
U/s 80 C
Employees PF contribution ₹0
Others ₹0 ₹0
U/s 80CCD (if over above 80C limit) ₹0

U/s 80 D
Mediclaim Premium-Self, Spouse and Children ₹0
Mediclaim Premium-Parents ₹0 ₹0

U/s 80 DD (Medical treatment of handicapped dependent) ₹0

U/s 80DDB (Medical treatment for specified diseases self/depen ₹0
U/s 80E (Interest on Education Loan) ₹0
U/s 80EEA (Additioanl Interest deduction for affordable house p ₹0
U/s 80EEB (Interest on Loan for Purchase of Electric Vehicle) ₹0
U/s 80G (Donations to approved organisations) ₹0
moneyjigyasu.com
U/s 80GG (Rent in case of no HRA component in CTC) ₹0
U/s 80U (Physical disability) ₹0
U/s 80TTA (Interest on saving bank account) ₹ 10,000
Any other deduction ₹0
Total Deductions ₹ 10,000

Taxable Income ₹ 2,592,800

Tax Payable on Total Income ₹ 515,340
Less: Section 87A ₹0
Net Tax Payable after Section 87A relief ₹ 515,340
Add:  Surcharge ₹0
Add:  Cess 20,614
Total Tax Payable 535,954
Monthly TDS (approx.) 44,663

Terms of usage: The calculator is for reference and educational purpose only and not professional or
legal advice for taking decisions. Although care has been taken in making this calculator as accurate as
possible, there may be deviations in individual cases and take home figure is only an estimate, which can vary for
your specific case.If you have any doubts or queries, please mention in the comments section on our website or
shoot a mail to newsletter@moneyjigyasu.com with subject "CTC to take home Calculator-Query".
 Note: Please fill 'input sheet' only. This sheet is auto-filled
ator for Financial Year 2020-21 (Assesment Year 2021-22)

Including
Variable
₹ 2,602,800

No exemption allowed
No exemption allowed
No exemption allowed
No exemption allowed
No exemption allowed
No exemption allowed
₹0
₹ 2,602,800

No exemption allowed
₹ 0 No exemption allowed
₹ 2,602,800
₹0
₹ 0 No deduction allowed
₹ 2,602,800

No deduction allowed
₹0
₹0

No deduction allowed
₹ 0 No deduction allowed

₹ 0 No deduction allowed
₹ 0 No deduction allowed
₹ 0 No deduction allowed
₹ 0 No deduction allowed
₹ 0 No deduction allowed
₹ 0 No deduction allowed
₹ 0 No deduction allowed
 ₹ 0 No deduction allowed
₹ 10,000 No deduction allowed
₹ 0 No deduction allowed
₹ 10,000

₹ 2,592,800
₹ 515,340
₹0
₹ 515,340
₹0
20,614
535,954
44,663

and not professional or

alculator as accurate as
an estimate, which can vary for
nts section on our website or
culator-Query".
Key Changes in Budget 2020 (Applicable from April 1, 2020)

1. 2 tax slab options-

First Option- OLD SCHEME- Same tax slabs as FY 2019-20 WITH BENEFIT OF exemptions/deduction
Up to Rs 2.5 L – No Tax
Above Rs 2.5 L to Rs 5 L – 5%
Above Rs 5 L to Rs 10 L – 20%
Above Rs. 10 L – 30%
Second Option- NEW SCHEME- New lower rate tax slabs BUT NO BENEFIT OF exemptions/deductio
Up to Rs 2.5 L – No Tax
Above Rs 2.5 L to Rs 5 L – 5%
Above Rs 5 L to Rs 7.5L – 10%
Above Rs 7.5 L to Rs 10 L – 15%
Above Rs 10 L to Rs 12.5 L – 20%
Above Rs. 12.5L to Rs. 15 L- 25%
Above 15L -30%

Key Changes in Budget 2019 (Applicable from April 1, 2019)

1. For those who have Net Taxable Income (after deductions under section 80 C, 80D etc.) up to 5
there will be no income tax liability due to the 100% tax rebate under section 87A.

2. Standard deduction for salaried individuals has been increased from Rs.40,000 to Rs.50,000.

3. Gratuity amount allowed to be received tax free has been increased from 10 lakh rupees to 20 la

4. New deduction available u/s 80 EEB for interest on loan taken for purchase of electric vehicles