Definition: This is the total amount of money you earn in a year before any deductions. It includes your salary, bonuses, and any other income you receive.

Example: If you earn ₦200,000 per month, your annual gross income is ₦2.4 million.

Definition: This is a standard tax relief the government gives to everyone to reduce how much tax they pay. It's a combination of fixed and percentage-based deductions from your income.

Definition: These are additional deductions allowed by law, such as pension contributions, National Housing Fund (NHF), National Health Insurance (NHIS), and life insurance premiums.

Definition: This is the amount of your income that will be taxed after all reliefs and deductions have been removed from your gross income.

Definition: This is the actual amount of money you are required to pay as tax to the government based on your taxable income.

It's the final result after all calculations — what you owe in tax for the year.