Money guides

Direct answers to the questions people actually type, worked on real numbers with FY 2025-26 rules. Every figure comes from the same engine the app uses.

Educational information, not investment advice · Muktify is not SEBI-registered

• Can I claim HRA if I pay rent to my parents?

  Yes — paying rent to your parents qualifies for HRA exemption if they own the home, the rent is genuinely paid, and they declare it. The rules, the proof you need, and the exemption maths.

• Old vs new tax regime — which is better for me?

  The new regime wins unless your deductions are large. See the break-even point on your own salary, worked with FY 2025-26 slabs, and compare both regimes in seconds.

• How much tax do I pay on a ₹15 lakh salary?

  On ₹15 lakh gross you pay ₹97,500 under the new regime in FY 2025-26, or ₹2,57,400 under the old regime with no deductions. Full slab-by-slab working, both regimes.

• Is a ₹12 lakh salary really tax-free?

  ₹12 lakh of taxable income pays nil tax under the new regime — which is ₹12,75,000 of gross salary after the standard deduction. Full working, both regimes.

• Should I prepay my home loan or invest the money?

  Compare the after-tax cost of your home loan against the return you assume, and see the interest a prepayment actually saves. Neutral maths on your own numbers — not advice.

• How much home loan can I get on my salary?

  Two ceilings decide it — what your income services and what your deposit covers — and the lower one wins. Worked example on a ₹1 lakh monthly take-home.

• Is renting throwing money away?

  In year one, about 81% of a home-loan EMI is interest — money you never get back either. The real rent-versus-buy comparison, worked on Indian numbers.

• What salary do you need for a ₹50 lakh home loan?

  There is no single figure — it runs from about ₹77,000 to ₹1.24 lakh a month on the same ₹50 lakh loan, depending on tenure and the lender's own limit.

• How do I save tax in the new regime?

  Almost every deduction is gone under the new regime. Employer NPS under 80CCD(2) is the main one left — worth ₹13,104 to ₹46,800 depending on your salary.

• How is gratuity calculated in India?

  Gratuity is 15/26 of your last drawn basic plus DA for every completed year of service, capped at ₹20,00,000. Worked examples, and the five-year rounding trap.

• Advance tax due dates and penalty — what happens if I miss one?

  Advance tax is due on 15 June, 15 September, 15 December and 15 March, at 15%, 45%, 75% and 100% cumulatively. Miss one and interest runs at 1% a month under Sections 234B and 234C.

• How much emergency fund do I need in India?

  Six months of expenses is the usual starting point — but the right number depends on your job stability, dependants and health cover. Work out your own target in under a minute.

• How do I calculate in-hand salary from CTC?

  Subtract employer PF from CTC to get gross, then take off your own PF, income tax and professional tax. Worked step by step on a ₹20 lakh package with FY 2025-26 slabs.

• CTC vs gross vs in-hand salary — what is the difference?

  CTC is what your employer spends, gross is what is payable to you, in-hand is what reaches your bank. Each is smaller than the last — see the three figures on a ₹15 lakh package.

• What is the in-hand salary for a ₹12 LPA package?

  A ₹12 LPA package pays about ₹90,200 a month in hand, and zero income tax under the FY 2025-26 new regime. Full breakdown, plus the same maths from ₹6 LPA to ₹25 LPA.

• How much PF is deducted from my salary?

  EPF is 12% of basic salary from you and 12% from your employer. Where the ₹15,000 wage ceiling applies it is ₹1,800 a month each. What that costs your take-home, worked out.

• How much do I need to retire in India?

  Your retirement target is your annual spending divided by the withdrawal rate you assume — not a multiple of salary. See what your own expenses imply, and why inflation changes the figure.

• How much should I save each month to reach a goal?

  Work backwards from the amount and the date. See how the monthly figure changes with time, why the cost itself rises before you get there, and what a goal costs your retirement date.

• Which loan should I pay off first?

  Highest rate first costs the least interest; smallest balance first clears loans soonest. See the gap between the two on your own loans, and why the EMI you free up matters most.

• What does it really cost to buy a house in India?

  The listing price is barely half of it. Stamp duty, registration, brokerage, interiors, loan interest and years of upkeep — how to total what a home costs.

• What are stamp duty and registration charges?

  State taxes paid on the day you buy, from your own savings, rarely funded by a home loan. What they cover, who sets them, and why no one rate applies to all.

• How much life cover does my family actually need?

  Forget multiples of salary. Work it from what a family would need — loans to clear, living costs to replace — minus what they would already have to hand.

• How long would my savings last if I lost my job?

  One division answers it: money you could actually reach, over what leaves your account each month. No growth assumptions, no projection — just time you have.

• How much down payment do I need for a home loan?

  Lenders fund most of a property value but never all of it, and never the state charges. What you need saved before you buy, and what a bigger deposit buys.

• How much EMI can I afford on my salary?

  What a lender approves and what you can carry are different numbers. How lenders decide, and the harder test of what an EMI leaves at the end of a month.