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IN Tax 2024

iCalculator™ IN: Gross Pay

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Gross income is your annual income before any income tax deductions. It is the actual amount used for calculation of income tax payable.

Gross Income in Detail

Gross income includes all income including salary, bonuses, and commissions. This is the gross amount you have earned in a year.

Example 1:

Suppose your annual salary is ₹12,00,000. Your company has deducted tax of ₹190,550 (income tax plus education cess) on your income resulting in a take home income of ₹10,09,450. In this example, your gross income is ₹12,00,000.

What is included in gross income?

Apart from salary and bonuses, gross income also includes additional income such as rent, interest from banks and other sources, and dividends.

Example 2:

Let's say your annual income is ₹15,00,000 and your take-home pay is ₹12,16,750 after deducting tax of ₹283,250. Additionally you have earned interest of ₹50,000 and dividend of ₹20,000. In such a scenario, your gross pay is ₹15,70,000 (₹15,00,000 + ₹50,000 + ₹20,000).

Use our tax calculator to calculate your tax payable on your gross income before taxes.

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