No that is correct what I have stated. 120 is the standard take - away for now. Though, there will be lot of discussion and debate on this before the budget is tables before two house of parliament for President of India's consent.
I suggest you to -
Either contact your Depository.
Or a best income tax consultant for more clarity.
In any case, I am not a tax consultant. I am a lay man like you and have gone clearly by the note received from CARE.
Kindly check with either of these and go by them.