gross income

Show Summary Details

Quick Reference

1 The income of a person or an organization before the deduction of the expenses incurred in earning it.

2 Income that is liable to tax but from which the tax has not been deducted. For many types of income, tax may be deducted at source (see deductions at source) leaving the taxpayer with a net amount.

Subjects: Financial Institutions and Services.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.