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Your email address will not be published. Giving a Gift Voucher by a company on a birthday or anniversary that is worth Rs 5000 per annum is tax-free. Also includes Tuition Fees, Home Loans Principal repayment, Stamp Duty (The Best, Section 80E: The Interest paid on the Education Loan. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); However, there is one drawback to the entire salary structure. HomeFirst will charge interest only on the amount disbursed as loan during the construction phase. make the most money in Alaska, where they get an average salary rate of near $35,390. My Gross Salary is 15,60,000 pa WebThis illustration provides a salary calculation for an resident of India earning 2,400,000.00 per annum. Salary They are calculated by multiplying the number of hours worked by the hourly rate. Home Loans are available for applicants between 21 to 55 years of age, but generally, financial institutes prefer to sanction home loans to the younger population. Interest rates and other charges depend on the products. A salary is determined based on comparing similar positions in the same industry or region. Packers and Packagers, Hand have the highest average income in the following What is deducted from Indian Monthly Salary? However, for the majority of the salaried population, with real estate prices beyond their reach, this dream can be only achieved late in their lifespan once they have accumulated sufficient savings. EPF and Employees PF contribution are two separate things. The difference will be at the end of the year when you have to pay your taxes or get a refund. 1. The income tax provision is applicable to all the individuals who have been eligible to the income tax bracket as decided by the government of India. While the salary and wages being offered to an employee are important, there are other non-financial benefits that an employer can offer. These deductions will vary depending on the CTC. Submit Query for Tax Calculation Software. However, we would be doing a detailed analysis on this particular tax-saving technique and would recommend going once through the post. Since the LTV is 90% of 20 lac i.e. The cash in hand with regard to the IBPS Clerk salary is Rs 19,461 for those who join initially. Sign up in our career community today! In terms of home loans, the health of the underlying asset is of utmost importance. This net salary is used to calculate home loan eligibility. L&T Technology Services Salaries in India 19.8 lac, you can get only 19.8 lac (not 23,83,366) as the final home loan amount whose EMI comes to 19,107 per month. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check. It is also known as the take-home salary. HomeFirst Home Loan Eligibility calculator, documents needed for home loan applications. so finally you tax will be NIL ( Zero ) In her current journey, she writes about recent advancements in technology and it's impact on the world. Standard ded -50000 careers. -Sec 24 -200000( Interest on loan ) HomeFirst looks like a great place to work! Required fields are marked *. The total deductions are 2,400 + 20,500 + 20,500. So 4012=28 lakhs is your in hand salary or 2.35 lakhs per month Increment from these levels would be slow so 510% depending on market conditions and your skills 23 Prannay Jha