How is ‘Net Taxable Income’ computed?

Computation of ‘Net Taxable Income’ of an individual
Firstly, compute Gross Total Income of an individual. Thereafter, certain deductions under chapter VIA are allowed from Gross Total Income. Gross Total Income less deductions under chapter VI-A = Net Taxable Income (or Total Income)
In order to calculate GTI, we should understand certain basics about the concept of income.
Previous Year : 2011 – 12 01.04.2011 – 31.03.2012
Assessment Year : 2012– 13 01.04.2012 – 31.03.2013
Accounting Period = 2011 – 12
= 01.04.2011 – 31.03.2012