Adjusted Total Income

[Nitika Patni]

What is the meaning of Adjusted Totak Income ? How To calculate it for Income Tax Purpose ?

 

Nitika

[Mahir S]

Adjusted total income means Total Income as increased by deduction Claimed under chapter VI-A (other than 80P) & Section 10AA.

[CAGOPALJI AGRAWAL]

Adjusted total income would be total income as increased by NOT all deductions under chapter VIA but only deductions covered under the Heading "C" of  chapter VIA. hence the deductions from section 80C to 80GGC and 80U would not be added back. Therefore the deductions from 80HH to 80RRB would be added back except section 80P and 10AA.

AI Summary

Adjusted Total Income: scope of add-back of Chapter VIA deductions clarified, with differing practitioner views on excluded categories.
Adjusted Total Income is total income with certain Chapter VIA deductions and specific investment allowance deductions reinstated; practitioner views differ on scope-one includes most VIA deductions (with specified exclusions) while the other limits add-back to deductions under the VIA heading "C", excluding many common VIA deductions but reinstating a separate subset except for expressly excluded items.