WebMar 26, 2016 · Insertion of new sections 288A and 288B 34. After section 288 of the Income-tax Act, the following sections shall be inserted, namely:— Click here to view the Section 288A & 288B as per ... WebJan 16, 2012 · As per this section, Total amount of taxable income calculated as per various provisions of this act shall be rounded off to nearest Rupees 10 (ten) and avoid any fraction thereto. For example, if taxable amount computed is Rs. 999995/- then it shall be rounded off as Rs.1,00,000/- and where taxable amount computed is Rs.9,99,994.50, it shall ...
Rounding off the TDS - Income Tax - CAclubindia
WebOct 31, 2024 · (Section 288b; Rounding off of Tax Liability: the final tax liability shall be rounded off to the nearest multiple of RS. 10. For this purpose any Paisa shall be ignored and if the last digit is 5 or more, such amount will be rounded off to the higher multiple. If the last digit is less than 5, such amount will be rounded off to the lower ... WebNov 12, 2024 · Section 288B-Rounding off the tax payable to multiples of Rs.1 0 (similar to Elementary Maths Rounding). Rate of Interest. Section: Interest Rate: ... Time Limit allowed under the Act for payment of Demand: 30 Days: 30 Days: 30 Days: Due date of payment of Demand: 12/12/2024: 11/11/2024: 29/01/2024: Amount Demanded (interest amount ... aquamarine hindi meaning
Income Tax -Rounding off Under Income Tax Section 288 A & 288 B
WebMar 26, 2016 · Insertion of new sections 288A and 288B 34. After section 288 of the Income-tax Act, the following sections shall be inserted, namely:— Click here to view the … WebJan 1, 2024 · Answered on January 01,2024. As per section 288B, tax payable by the taxpayer or tax refundable to the taxpayer shall be rounded off to the nearest multiple of ten, following points should be kept in mind while rounding off the tax : First, any part of the rupee consisting of any paisa should be ignored. After ignoring paisa, if such amount is ... Web92 [Rounding off amount payable and refund due.. 288B. Any amount payable, and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest … baifeng wan