Gross Total Income
Definition
The sum of income under all heads in India — salary, house property, business, capital gains and other sources — before Chapter VI-A deductions. Deductions are then subtracted to reach total taxable income.
Related Terms in India GST
PAN-Aadhaar Linking
The Indian requirement to link the Permanent Account Number with the Aadhaar identity number. An unlinked PAN can become inoperative, affecting return filing, refunds and TDS rates.
Faceless Assessment
An Indian income-tax process where assessments are carried out electronically without the taxpayer meeting an officer, aimed at reducing discretion and improving transparency.
Tax Residency Certificate (TRC)
A certificate from a taxpayer's home country confirming residency, used to claim benefits under a double-taxation treaty on cross-border income. It is often required to apply a reduced withholding rate.
Section 44AE (Transporters)
A presumptive taxation scheme for small goods-transport operators in India, taxing income at a prescribed amount per vehicle per month rather than on actual profit, within a limit on the number of vehicles owned.
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