computation sheets of the IT returns - whats that ??????

Computation Sheet is Shows besides your basic Personal Details, your Income Details, Deductions and Exemptions computed under the Income Tax Act and the Tax Liability computed thereof. Infact, it shows the details of your all Income from various sources.

Originally posted by : AMIT KUMAR JAIN
	Computation Sheet is Shows besides your basic Personal Details, your Income Details, Deductions and Exemptions computed under the Income Tax Act and the Tax Liability computed thereof. Infact, it shows the details of your all Income from various sources.

Mr. Jain - Thanks much for your reply. Where to find "computation sheet"?

Is it same as an audit statement?

Hi M,

In case of Tax Audit Report etc. Computation is generally attached at first and then rest of the documents and Report. In any other case, Computation of Income (COI) is generally given to assessee where his Income details and Tax calculation is given.

It is different from audit statement (???). You must mean Audit Report. COI and Audit Report both are different. In safer side, carry all Income Tax related documents with you to the Bank (if you get confused in finding COI) and ask them which one they want.

No, it is not the same as Audit Statement. Infact it will be prepared before filing of your Income Tax Return. Based on the data contained in this Computation Statement, Return of Income will be filed.

Thanks all of you for your help!