MANAGEMENT

Detailed explanation-1: -Gross income refers to the total income earned by an individual on a paycheck before taxes and other deductions. It comprises all incomes received by an individual from all sources – including wages, rental income, interest income, and dividends.

Detailed explanation-2: -Aggregate income before deductions under chapter VIA is known as Gross Total Income.

Detailed explanation-3: -Your employer deducts a portion of your salary every month and pays it to the income tax department on your behalf. Based on your total salary for the whole year and your investments in tax-saving products, your employer determines how much TDS has to be deducted from your salary each month.

Detailed explanation-4: -Taxable income or gross income or adjusted gross income includes salaries, wages, bonuses, etc. along with unearned income and investment income. It is the amount that will be used to determine your tax liability.