Today in this Guide we are talking about ITR Computation Format Download in Excel 2022-23. Basically when you want to apply for Credit Cards or Bank loan you need always income tax return so normally people think that only Official Income tax return acknowledgement are enough but you need to provide ITR Computation Format with the acknowledgement on the same. So Let’s First understand all about ITR Computation then just Checkout ITR Computation Format in Excel on the same.

WHAT IS ITR COMPUTATION?

ITR Computation is simplified Document which explain your source of income and tax liability which already has been paid through Official Income Tax Return Acknowledgement. Normally Official Income Tax Return Form-1,2,3,4 are 8-15 Pages so Bank official not use that documents to check Income. They need ITR Computation which simplified everything from Source of Income to basic details in just 1-2 pages.

Why ITR Computation is required ?

ITR Computation is required mainly by the bank or credit companies or VISA Offices or any other official purpose where your ITR is required. In Following case mainly ITR Computation Documents is Required

  1. When you apply Bank Home Loan or Car Loan or Mortage Loan
  2. When you apply Credit Card in a Bank
  3. When you Apply VISA for any Country
  4. When you provide ITR for Scholarship or School Admission

How ITR Acknowledgement can be Download

The department automatically creates the ITR-V Acknowledgement and to the person with the registered email id. Then the following steps are followed for itr computation download:

Step 1: Log in and choose the “View Returns / Forms” option on the Income Tax E-Filing website.

Step 2: Choose “Income Tax Return” and “Assessment Year” from the menu. Select “Submit.”

Step 3: Select the income tax return’s acknowledgment number from which you wish to get the ITR-V.

Step 4: ITR-V would be downloaded in step four.

How to Make ITR Computation Online | Income tax computation format in excel

You need to Create ITR Computation in Excel or Word Format. There are lot of the format available online but you need to choose proper Format because you need to enter following below details in ITR Computation –

– Basic Details like name email phone number bank details assessment year etc.
– Source of Income like Gross Salary and HRA Exemption & Other Income Source Bank Interest Dividend Income etc.
– Deduction like 80C 80D etc
– Net Tax liability and Tax Challan Details etc.

So We at MyOnlineCA create a simplified ITR Computation Format where you can edit yourself basic details and Create ITR Computation in PDF Format for yourself within few mintues. So just checkout below Video and Download Here ITR Computation Format.

Hope you like this Guide on Income Tax Computation Format. If you have any issue regarding the format then you can email us at dev@myonlineca.org