2. The Income computation pack

I should generally draw out on a computer or even on a plain piece of paper, a statement of my income and my taxes for the year.

My income means my income classified under the 5 heads of income

Totalling it up to get to my Gross Total Income.

(Noting my Exempt incomes)

Reducing Deductions

Arriving at my Total Income

Finding my taxes thereon

Reducing my taxes paid

Finding if any tax is due on self assessment, or is tax paid exactly equal to what my tax liability is, or is there a refund due on account of extra tax paid

For this is what I will replicate as Computation of Income in my Tax Form.

For each class of Income, and each class of Deductions, there are certain information or compilation requirements, which we speak later when we look at forms.