I'm a fresher, got an offer letter and don't know much terms and also no idea about taxes.
Offer : Basic 10 lakh, HRA 4 lakh, Leave Travel allowance 1 lakh, conveyance allowance 60k, other allowance 440k. So the total cash component is 1.66L per month or 20 L a year. PF is 1800 per month (21.6k year) Gratuity 4k per month. (I don't think this is any useful) These along with some joining bonuses over first 2 years.
It's written "PF,Professional tax, TDS forms part of the above CTC package."
I do have some loans and plan to buy some things on EMI to further save taxes (idk if they count) please tell me in comments
You are saying you are a fresher , getting 20L, and already have loans , and want to purchase stuff in EMI. You will have a very stressful life ..
I will get it starting next year, the loans are will mostly be paid by parents but I just want to help by 50/60k per month or so.
Main reason for this post was to understand how much will I be taxed. Emi option I only brought out because I heard somewhere that if I have ongoing loan/emi I get some tax relied
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