Gross total income aggregates income from all heads and forms the basis for computing a taxpayer's taxable income. Gross Total Income is the aggregate of a taxpayer's income from each statutory head of income and serves as the starting point for computing tax liability; income is determined under each head, combined to form Gross Total Income, and deductions and adjustments are subsequently applied to derive taxable income.
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Provisions expressly mentioned in the judgment/order text.
Gross total income aggregates income from all heads and forms the basis for computing a taxpayer's taxable income.
Gross Total Income is the aggregate of a taxpayer's income from each statutory head of income and serves as the starting point for computing tax liability; income is determined under each head, combined to form Gross Total Income, and deductions and adjustments are subsequently applied to derive taxable income.
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