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What is adjusted gross income (AGI) in Indian income tax?
What is adjusted gross income (AGI) in Indian income tax?
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Adjusted Gross Income (AGI) is not a concept used in Indian income tax law. However, taxpayers in India calculate their taxable income by subtracting eligible deductions, exemptions, and rebates from their total income, arriving at the net taxable income. This net taxable income is then subject to tax at the applicable rates as per the Income Tax Act.