Question 1

What is the in-hand salary for 12 LPA CTC?

Accepted Answer

For 12 LPA CTC, the monthly take-home is approximately 82,000 to 85,000 rupees under the new tax regime FY 2025-26, after deducting employee PF, Professional Tax (varies by state), and income tax. Income up to 12 lakh is effectively tax-free due to Section 87A rebate.

Question 2

Which is better — old or new tax regime for FY 2025-26?

Accepted Answer

The new tax regime is better if your total deductions (80C plus HRA plus 80D plus home loan interest) are below approximately 3.75 lakh per year. Use the Tax Regime Comparator on LifeCalc.in for your exact calculation.

Question 3

Is income up to 12 lakh tax-free in FY 2025-26?

Accepted Answer

Yes, under the new tax regime for FY 2025-26, income up to 12 lakh is effectively tax-free due to the Section 87A rebate of up to 60,000 rupees. With standard deduction of 75,000, gross salary up to 12.75 lakh results in zero income tax.

Question 4

How much SIP do I need to accumulate 1 crore?

Accepted Answer

At 12% annual return: 19,800 rupees per month for 15 years, or 43,000 per month for 10 years, or 10,000 per month for 20 years. Use the SIP Calculator on LifeCalc.in.

Question 5

What is the standard deduction for FY 2025-26?

Accepted Answer

The standard deduction is 75,000 rupees under the new tax regime and 50,000 rupees under the old tax regime for FY 2025-26.

Question 6

Which Indian states charge Professional Tax?

Accepted Answer

Karnataka (2,400/yr), Maharashtra (2,500/yr), West Bengal (2,400/yr), Andhra Pradesh (2,400/yr), Telangana (2,400/yr), Tamil Nadu (2,400/yr), Kerala (1,560/yr), Odisha (2,400/yr), Jharkhand (2,500/yr). Delhi, Gujarat, Rajasthan, UP, Bihar have zero Professional Tax.

Question 7

What is the EPF interest rate for FY 2024-25?

Accepted Answer

The EPF interest rate for FY 2024-25 is 8.25% as set by EPFO.

Question 8

How is LTCG on equity mutual funds taxed in India?

Accepted Answer

Long-term capital gains on equity mutual funds held over 12 months are taxed at 12.5% on gains exceeding 1.25 lakh rupees (Budget 2024). Short-term capital gains on equity under 12 months are taxed at 20%.