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<h1>Taxable income calculation: subtract Chapter VI-A deductions from gross total income to determine tax liability under applicable regime.</h1> Gross Total Income is the aggregate of income from salary, house property, business or profession, capital gains and other sources; after adjusting inter-source and carried-forward losses as required, deductions under Chapter VI-A (commonly under sections 80C-80U) are subtracted from Gross Total Income to produce Total Income, which is the taxable income used to determine tax liability; electing a concessional tax regime requires computing Total Income without specified exemptions or deductions.