What is the difference between gross total income and total income?

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..... ncome (GTI). After claiming these deductions from GTI, the income remaining is called as Total Income. In other words, GTI less Deductions (under section 80C to 80U ) = Total Income (TI). Total income can also be understood as taxable income. Following table gives a better understanding of the difference between GTI and TI: Computation of gross total income and Taxable Income .....

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..... (if any) will have to be adjusted (as per the Income-tax Law) while computing the gross total income. Note: If the eligible assessee has opted for concessional tax regime under section 115BAA , 115BAB , 115BAC , 115BAD and 115BAE the total income of assessee is computed without claiming specified exemptions or deductions: - Manuals - Ready reckoner - Law and practice - Reference Gui .....

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