This script determines:
- When you're made an offer for a given CTC, how much will you take home every month?
- If you want a certain amount of take-home pay every month, what CTC should you ask for?
This is for Indians.
This script handles:
- Differing tax treatments for employees and consultants. The latter are eligible for presumptive taxation under section 44AD.
- Health and education cess
- PF and pension
- Section 80C investments
- Professional tax.
The script makes some assumptions, listed at the top of the file. Verify that those apply to you, taking your CA's help if needed. Some parameters can be changed; again, see the comments.
The script is updated for fiscal year 2019-20.