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: Includes Deductions from Sections 80HH to 80RRB, Excludes Sections 80P and 10AA for Tax Calculations. Adjusted total income refers to the total income increased by specific deductions claimed under Chapter VI-A, excluding Section 80P and Section 10AA. According to one participant, it includes deductions under the heading 'C' of Chapter VI-A, meaning deductions from sections 80C to 80GGC and 80U are not added back. Instead, deductions from sections 80HH to 80RRB, except for 80P and 10AA, are added back to calculate the adjusted total income for income tax purposes.