Computation of income of ITR
Get Computation of income of your filed Salary ITR or Business ITR in 1 hour for loan, income proof, visa, insurance purposes for Rs. 350 only
- Instant Soft Copy
- CA certified COI available if required
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What is Computation of Income?
Computation of income means calculating the total taxable income of a taxpayer after classifying income under 5 heads of income, allowing eligible exemptions, deductions and set off of losses as per the Income Tax Act.
The final figure obtained is called Total Income or Taxable Income, on which income tax is calculated as per applicable slab rates.
This document plays a important role in various processes such as bank loan approvals, insurance applications and VISA processing. The COI can be prepared both before and after filing the Income Tax Return.
Unlike the detailed and often complex official ITR documents which is available in income tax portal, the COI offers a simplified overview of a taxpayer’s financial structure. It clearly highlights income sources, investments, expenses, and other key details, making it easier for banks, insurance providers, and financial institutions to analyze and make informed decisions efficiently.
What are the Components of Computation of income?
The Computation of income contains the following details –
- Taxpayer details like PAN, Name, Father’s name, Date of birth, Gender, Address, Mobile, Email, Residential status
- Assessment year, ITR form number, Acknowledgement number, Date of filing
- Gross total income which is a total of all income sources after deducting eligible exemptions
- Deduction under Chapter VI A for various investment and expenses
- Total income (Gross income – Deduction)
- Tax liability calculation
- Taxes paid like TDS, Self assessment tax, advance tax
- Tax payable or refundable
- Detailed schedules of income, deductions, exemptions, TDS deduction, AIS/TIS
Use of Computation of Income
Computation of income is required for
- Bank Loan like home loan, car loan
- Health Insurance Policy
- Term Life Insurance Policy
- Student and Tourist Visa Approvals
- Any other place where you need to show your income.
Documents Required for Computation of Income Preparation
To prepare the Computation of Income (COI), the following details and documents are required. All of these can be downloaded from the Income Tax Filing Portal through your login:
- ITR Form (Previously Filed Form)
- ITR V (Acknowledgement)
- JSON File
How to get Computation of income of ITR?
Provide the Documents: Share the documents like ITR form, ITR Acknowledgement and JSON file of the relevant years or send us Income tax login details to download all the required documents on email caarjund@gmail.com or whatsapp us at 9769647582
Preparation: We will prepare the Computation of Income based on the provided documents of your filed ITR.
Get COI: We will send Soft copy in PDF format on email or whatsapp in 1 hour.
Sample Format of Computation of income of ITR from Salary income
Sample Format of Computation of income of ITR from Business income
If you want CA certified income tax return or computation of income for loan or visa purpose as explained to you in this article or you have any query then you can contact us at +91 9769647582
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