The full form of CTC is Cost To Company. It is a term which signifies the cost that a company would incur on you as an employee. The salary and other perquisites that your company pays you is actually cost for them and hence the term.
Your pay package defines what the company would pay you and it is normally defined in terms of yearly pay. The break up of various elements in CTC would talk about the basic salary, HRA (House rent allowance) and other such allowances.
Take home pay is what you actually receive at the end of month or salary period. The in-hand figure is calculated after deducting income tax (TDS) and other deductions as per company policies. [More]