Gross Total Income (GTI) refers to the total income earned by an individual or entity in a financial year before claiming any deductions under Chapter VI-A of the Income Tax Act, 1961. It is a key component in calculating your final tax liability and includes earnings from all five heads of income: salary, house property, business or profession, capital gains, and other sources.
For small business owners, freelancers, salaried individuals, and startups, GTI is an essential figure used in income tax returns (ITR) and financial planning. It represents your income before exemptions and deductions—serving as the starting point for determining how much tax you owe.
Calculating GTI correctly ensures compliance with income tax laws and avoids issues such as underreporting or overpaying taxes. Whether you’re applying for loans, seeking funding, or registering a new business, having a clear understanding of your Gross Total Income can support transparent financial documentation and better decision-making.
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Understanding your GTI helps you plan deductions wisely and stay compliant with Indian tax laws—all while maintaining healthy financial records.