WebSection 288A and 288B of Income Tax Act 1961 Rounding off of income and Rounding off amount payable and refund due are defined under section 288A and 288B of Income Tax … WebRounding off of income. 288A. The amount of total income computed in accordance with the foregoing provisions of this Act shall be rounded off to the nearest multiple of ten …
Rounding off of tds - Income Tax TDS - caclubindia.com
WebRounding off of income. 288A. The amount of total income computed in accordance with the foregoing provisions of this Act shall be rounded off to the nearest multiple of ten rupees and for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, … WebMar 30, 2024 · Companies to Round off figures in the financial statements. ... (ITAT) has held that race promotion fee paid to formula one world championship should not be disallowed under Section 40(i) of the Income Tax Act, 1961. The assessee Jaiprakash Associates Ltd had filed the appeal against disallowance under Clause (i) of Section 40(a) … impala platinum mine learnerships 2022
Section 288A - Rounding off of income - Income-tax Act, 1961
WebNov 4, 2024 · This rounding off of income should be done only to the total income and not at the time of computation of income under the various heads. This says, if total income 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 … WebSep 16, 2024 · Amended Schedule III to the Companies Act, 2013- mandatory but very flexible manner of rounding off allowed is not proper. More slabs and uniform rounding off is desirable. Earlier article on related matter: Amendment in Schedule III to the Companies Act – what should be effective date- there is no harm in becoming more transparent … listview overflow flutter