What is Gross Total Income?
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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