CTC calculated for 21 LPA:

CTC: ₹21,50,000

1. Basic Salary: ₹8,60,000 (40% of CTC)

2. HRA: ₹4,30,000 (50% of Basic in metro city)

3. Conveyance Allowance: ₹19,200

4. Leave Travel Allowance (LTA): ₹0 (Assuming not claimed in this example)

5. Standard Deduction: ₹50,000

6. Professional Tax: ₹2,500 (Assuming state-specific PT)

7. Provident Fund (Employee Contribution): ₹1,03,200 (Assuming 12% of Basic)

8. Provident Fund (Employer Contribution): ₹1,03,200 (Assuming 12% of Basic)

9. Life Insurance Premium: ₹0 (Assuming not claimed in this example)

10. Medical Insurance Premium: ₹0 (Assuming not claimed in this example)

11. National Pension System (NPS) Contributions: ₹0 (Assuming not claimed in this example)

12. Children's Tuition Fees: ₹0 (Assuming not claimed in this example)

Total Exemptions and Deductions: ₹14,65,100

Taxable Income: ₹21,50,000 - ₹14,65,100 = ₹6,84,900

Income Tax Calculation:

- Up to ₹2,50,000: Nil

- ₹2,50,001 to ₹5,00,000: 5% of (Taxable Income - ₹2,50,000)

- ₹5,00,001 to ₹10,00,000: 20% of (Taxable Income - ₹5,00,000)

- Above ₹10,00,000: 30% of (Taxable Income - ₹10,00,000)

Total Income Tax: ₹24,800

Net Take Home (CTC - Income Tax): ₹21,50,000 - ₹24,800 = ₹21,25,200