What you take home, and which tax regime wins.
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Old regime or new regime?
Type your CTC to see which regime leaves more in your hand, and whether your deductions can make the old one win.
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Provision-by-provision reference (what each regime allows)
₹29 lakh salary: ₹1,81,637 in hand a month
On a CTC of ₹29,00,000 you take home about ₹1,81,637 a month (₹21,79,644 a year) under the new regime, after ₹11,600 PF, ₹200 professional tax and ₹31,980 income tax a month. The new regime saves ₹2,05,420 a year, unless your old-regime deductions add up to more than ₹7,97,588.
Every salary · ₹26 lakh · ₹27 lakh · ₹28 lakh · ₹30 lakh · ₹32 lakh · ₹35 lakh
The ₹29 lakh CTC, month by month
| A year | A month | |
|---|---|---|
| Basic | ₹11,60,000 | ₹96,667 |
| HRA | ₹5,80,000 | ₹48,333 |
| Special allowance | ₹9,65,004 | ₹80,417 |
| Gross pay | ₹27,05,004 | ₹2,25,417 |
| Employer PF (in the CTC, not paid to you) | ₹1,39,200 | ₹11,600 |
| Gratuity (in the CTC, paid when you leave) | ₹55,796 | ₹4,650 |
| Your PF (12% of Basic) | −₹1,39,200 | −₹11,600 |
| Professional tax | −₹2,400 | −₹200 |
| Income tax, new regime | −₹3,83,760 | −₹31,980 |
| In hand | ₹21,79,644 | ₹1,81,637 |
Basic at 40% of the CTC, HRA half of Basic, employer PF and gratuity inside the CTC, ₹2,400 professional tax, age under 60. Change any of it below or in the in-hand salary calculator.
Old vs new regime at ₹29 lakh
| New regime | Old regime | |
|---|---|---|
| Taxable income | ₹26,30,004 | ₹25,13,404 |
| Income tax and cess, a year | ₹3,83,760 | ₹5,89,180 |
| Income tax, a month | ₹31,980 | ₹49,098 |
| In hand, a month | ₹1,81,637 | ₹1,64,519 |
The new regime, by ₹2,05,420 a year, for most people. The old regime wins only when its deductions (the HRA exemption, 80C including your PF, home-loan interest, health insurance and your own NPS) add up to more than ₹7,97,588.
Your own deductions
Questions people ask about a ₹29 lakh salary
What is the in-hand salary on a ₹29 lakh CTC?
About ₹1,81,637 a month under the new regime: ₹2,25,417 of gross pay, less ₹11,600 PF, ₹200 professional tax and ₹31,980 income tax. That assumes Basic at 40% of the CTC with employer PF and gratuity inside it; a larger Basic means more PF and a little less in hand.
How much income tax is paid on a ₹29 lakh salary?
₹3,83,760 a year in the new regime (₹31,980 a month, 13.2% of the CTC), and ₹5,89,180 in the old regime with no deductions beyond PF. Both include the 4% health and education cess.
Is the old or the new tax regime better for ₹29 lakh?
The new regime, by ₹2,05,420 a year, for most people. The old regime wins only when its deductions (the HRA exemption, 80C including your PF, home-loan interest, health insurance and your own NPS) add up to more than ₹7,97,588.
Other salaries: ₹26 lakh · ₹27 lakh · ₹28 lakh · ₹30 lakh · ₹32 lakh · ₹35 lakh · every salary from ₹3 lakh to ₹2 crore
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