Your monthly salary is ₹50,000 and tax deduction is 12%. What is your take-home salary?
Question: Your monthly salary is ₹50,000 and tax deduction is 12%. What is your take-home salary?
Solution:
Take-home = Salary − (Tax% × Salary)
Tax = 12% of 50,000 = ₹6,000
Take-home = 50,000 − 6,000 = ₹44,000
So, your take-home salary is ₹44,000.
Tax = 12% of 50,000 = ₹6,000
Take-home = 50,000 − 6,000 = ₹44,000
So, your take-home salary is ₹44,000.
Equation/Formula:
net = salary × (1 − taxPct/100)