Only business income of rs 4lakh for itr 3
preety sharma (26 Points)
22 August 2020
is it mandatory to prepare Computation of income??
1 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 23 August 2020
No, it's not mandatory to prepare computation of income.
Computation of income is for your reference purposes that how you calculate your income and tax liability their on.
It's can be useful for other purposes like in loan from bank, for credit card, for visa purpose ect. and asked by department also at time of scrutiny assessment.
Computation of income is for your reference purposes that how you calculate your income and tax liability their on.
It's can be useful for other purposes like in loan from bank, for credit card, for visa purpose ect. and asked by department also at time of scrutiny assessment.
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