29 LPA sounds like ₹2.42L/month gross. In-hand is lower — employer PF, professional tax, and income tax on fixed pay leave most people with ₹1.65–1.85L on fixed-heavy packages in metros.
Tax planning at 29 LPA
Old regime with HRA + 80C/NPS can beat new regime if you actually invest the deductions — not if you just claim rent receipts. New regime wins if you claim nothing and want zero paperwork. Run both in an income tax calculator before April.
- Fixed-heavy 29 LPA in metro: often ₹1.65–1.85L/month in-hand after PF and tax.
- Marginal tax on the last rupee often hits 30% plus cess — gross vs net gap widens here.
- Step-up SIP on every raise before rent or subscription upgrades.
The takeaway
Quote in-hand range to family — not CTC. Saves awkward conversations and sets realistic expectations.