I see many people putting lots of links in there site that points to other related sites. So if i have a computer website and point to other computer related websites , does this help in SEO?
linking with other relevent sites does help with SEO, computer software site -> computer software site = good computer software site -> how to pizza site = bad keep the links relevant and specific and reap the rewards
If you are linking out to another site you need to make sure it isnt seen as a bad site or part of a bad site. I usually make sure the site I am linking to is fully indexed with Google and also try to link with a page that has Page Rank. Try and link deep into a site instead of a top domain - for example with my computer site I'll link directly to the Microsoft Knowledge base instead of just Microsoft.com
If you're linking without getting links back, your Google pagerank may decrease. That is according to how their pagerank algorithm works.
This would be a relevant outbound link. In terms of SEO, this would help search engines determine your site's theme right. So yes, there is some benefit, albeit a minor one. Inbound links are much more important for high rankings. Warkot