Income from Salary
Includes salary, pension and taxable perquisites after eligible exemptions. A standard deduction is available as per chosen regime.
Income Heads
Five heads under which income is computed
Income from House Property
Computed as annual value minus municipal taxes and standard deduction. Interest deduction allowed per rules; self‑occupied may show a loss within limits.
Business or Profession
Profits after allowable expenses and depreciation. Presumptive options u/s 44AD/44ADA/44AE may be available subject to limits and conditions.
Capital Gains
Gains from transfer of capital assets; classified by holding period into STCG/LTCG with distinct tax rates and exemptions.
Other Sources
Residual head covering items not taxed elsewhere, such as dividends, interest, family pension and taxable gifts.