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 Is total income is same as gross total in...

 Is total income is same as gross total income?

 Is total income is same as gross total income?

0
Jeeba Jul. 03, 2018

No, gross total income and total income are different from each other.
Gross total income refers to the income that a taxpayer earns from different heads during the year. It can also be said that GTI= Income from(salary+ house property+PGBP+capital gain+other source)

Total income refers to the total income after adjusting eligible deductions under section Chapter VIA. In other words, It the amount that arrives after providing deduction under chapter VIA.

0
Jeeba Jul. 03, 2018

No, gross total income and total income are different from each other.
Gross total income refers to the income that a taxpayer earns from different heads during the year. It can also be said that GTI= Income from(salary+ house property+PGBP+capital gain+other source)

Total income refers to the total income after adjusting eligible deductions under section Chapter VIA. In other words, It the amount that arrives after providing deduction under chapter VIA.

 Is total income is same as gross total income?

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