Clubbing Of Income

procedures for total income
1. determination of residential status
2. computation of income Under each five heads (salary, HP, PGBP, capital gains and other sources)
-salary after computation of income Under the head salary. deduction u/s16 is allowed
-section 16 (ia) deduction of RS 40,000 or actual salary, which is less is allowed as deduction
3. aggregation of income
4. application of clubbing provisions
5. set-off / carry forward and set-off of losses
6. gross total income
7. deduction from GTI
8. Total income