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)
₹40 lakh salary: ₹2,36,063 in hand a month
On a CTC of ₹40,00,000 you take home about ₹2,36,063 a month (₹28,32,760 a year) under the new regime, after ₹16,000 PF, ₹200 professional tax and ₹58,657 income tax a month. The new regime saves ₹2,02,060 a year, unless your old-regime deductions add up to more than ₹7,97,599.
Every salary · ₹30 lakh · ₹32 lakh · ₹35 lakh · ₹45 lakh · ₹50 lakh · ₹60 lakh
The ₹40 lakh CTC, month by month
| A year | A month | |
|---|---|---|
| Basic | ₹16,00,000 | ₹1,33,333 |
| HRA | ₹8,00,000 | ₹66,667 |
| Special allowance | ₹13,31,040 | ₹1,10,920 |
| Gross pay | ₹37,31,040 | ₹3,10,920 |
| Employer PF (in the CTC, not paid to you) | ₹1,92,000 | ₹16,000 |
| Gratuity (in the CTC, paid when you leave) | ₹76,960 | ₹6,413 |
| Your PF (12% of Basic) | −₹1,92,000 | −₹16,000 |
| Professional tax | −₹2,400 | −₹200 |
| Income tax, new regime | −₹7,03,880 | −₹58,657 |
| In hand | ₹28,32,760 | ₹2,36,063 |
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 ₹40 lakh
| New regime | Old regime | |
|---|---|---|
| Taxable income | ₹36,56,040 | ₹35,28,640 |
| Income tax and cess, a year | ₹7,03,880 | ₹9,05,940 |
| Income tax, a month | ₹58,657 | ₹75,495 |
| In hand, a month | ₹2,36,063 | ₹2,19,225 |
The new regime, by ₹2,02,060 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 ₹7,97,599.
Your own deductions
Questions people ask about a ₹40 lakh salary
What is the in-hand salary on a ₹40 lakh CTC?
About ₹2,36,063 a month under the new regime: ₹3,10,920 of gross pay, less ₹16,000 PF, ₹200 professional tax and ₹58,657 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 ₹40 lakh salary?
₹7,03,880 a year in the new regime (₹58,657 a month, 17.6% of the CTC), and ₹9,05,940 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 ₹40 lakh?
The new regime, by ₹2,02,060 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 ₹7,97,599.
Other salaries: ₹30 lakh · ₹32 lakh · ₹35 lakh · ₹45 lakh · ₹50 lakh · ₹60 lakh · every salary from ₹3 lakh to ₹2 crore
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