Gross Total Income

Tax Glossary Definition

Gross Total Income

Gross Total Income is the total income earned by an individual or entity before any deductions or exemptions are applied, including income from all sources such as salary, business profits, capital gains, and other earnings.

Example

Mr. Sharma’s Income for FY 2024–25:

Source of Income Amount (₹)
Salary 10,00,000
Rental Income from House Property 2,00,000
Business Profit 5,00,000
Short-term Capital Gains 1,50,000
Interest from Bank FDs 50,000

Gross Total Income Calculation:

GTI=10,00,000+2,00,000+5,00,000+1,50,000+50,000=₹19,00,000GTI = 10,00,000 + 2,00,000 + 5,00,000 + 1,50,000 + 50,000 = ₹19,00,000

  • GTI = ₹19,00,000

  • Deductions (e.g., under 80C, 80D) will be subtracted later to arrive at Taxable Income.

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