Chargeable Income Of A Person

The chargeable income of a person upon which tax is chargeable for a year of assessment shall be ascertained as follows:-

a. Basis period for each source of income for that year of assessment.
b. Gross Income for each source of income for the basis period for that year of assessment.
c. Adjusted Income from each source of income for the basis period for that year of assessment.
d. Statutory Income for each source of income for that year of assessment.
e. Aggregate Statutory Business Income for that  year of assessment.
f. Net Aggregate Statutory Business Income, which is Aggregate Statutory Business Income reduced by business loss brought forward for that year of assessment.
g. Aggregate Income for that year of assessment, which is the aggregation of Net Aggregate Statutory Business Income and non-business income.
h. Total Income for that year of assessment.
i. Chargeable Income for that year of assessment.