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(Tax Benefit on the Education Loan (Sec 80E)). Salary 18 lac, you can get only 18 lac (not 20,46,586) as the final home loan amount whose EMI comes to 17,370 per month. You can refer to this article in order to. Mining, Quarrying, and Oil and Gas Extraction, Administrative, Support and Waste Management Services, Agriculture, Forestry, Fishing and Hunting. These values have been calculated by using the. HomeFirst India uses cookies and similar technologies to enhance your browsing experience and In her current journey, she writes about recent advancements in technology and it's impact on the world. WebOne of the eligibility criteria that determine how much loan you can avail is your net salary (in-hand salary). So, if your net monthly salary is 40,000, you can get a home loan up to approximately 24 lakh. Calculating take-home salary or net salary allows you to plan future spending, as it is directly dependent on income. So the Home loan was sanctioned in the name of my son but since he is at the initial stage of service so I opted to deduct the EMI (Equated Monthly Installment) from my pension. make the most money in Alaska, where they get an average salary rate of near $35,390. A credit score above 750 can also give you an upper hand to bargain for lower home loan interest rates. You realise you cant walk away from so much money, besides law firms no one will pay you so much, and therefore agree to be slave forever to achieve a higher target. I am residing in a rent house for 3,00,000 pa Here taking a salary as 30k, & without any fixed monthly obligation, you can pay a maximum of 15,000 as EMI considering 50% FOIR. You get the Gross Salary from which the EPF and professional tax will be deducted, Calculate Gross Salary by deducting EPF and Gratuity from the CTC, Calculate thetaxable income by making the required deductions from the total income, Income tax is calculated by adding the respective slab rate on calculated taxable income. Please advise me for how i invest in another way to avoid high dedect tax. All Rights Reserved. In the 50s, one may get a lower home loan amount and for a shorter duration. Follow the three steps given below: Choose if you want to calculate monthly or yearly salary. Recruiter makes it easy to find out about new jobs for packers and packagers, hand. However, it includes the amount such as bonuses, overtime pay, or holiday pay. 9,00,000-Rs. WebThe monthly salary calculator will show you the deductions such as EPF contributions from you and your employer, Professional tax, Insurance, and the take-home salary. * I declare that the information I have provided is accurate to the best of my knowledge. In Hand Salary Calculator 2023-24 | Calculate Take Home Salary Salary Package offered Almost 10% of the Machine Learning jobs are for Salary. If you have any further queries, feel free to leave a comment below, and well get back to you at the earliest. 80c, 80d, 80g, NPS, home loan, phone, broadband, LTA. Need best investment plan to save tax and retirement benift. How to check home loan eligibility? WebDeduct 7% for gratuity and PF i.e 2.8 lakhs. The reason is that younger applicants have a longer working life and, therefore, the chances of repayment of home loans are high.