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What is Gross Total Income?

Question

What is Gross Total Income?

Expert Answer
Answered 21 Oct 2022
2322 views

Gross total income is the aggregate of income under all the five heads of income after adjusting the set-off & carry forward of losses. Deductions under chapter VIA is provided from GTI, to arrive at Total income or taxable income.

Computation of total income for the A.Y

 

Particulars

Amount

Salaries

***

Income from house property

***

Profits and gains of business or profession

***

Capital gains

***

Income from other sources

***

Gross Total Income

***

Less: Deduction u/s 80C to 80U

***

Total Income

***

 

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