Section 288A - Rounding off of income - Income-tax Act, 1961

1 [Rounding off of income. 288A. 2 [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, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten; and the amount so rounded off shall be deemed to be the total income of the assessee for the purposes of this Act.] 3 [***] ---------------------- Notes :- 1. Inserted by the Finance Act, 1966, w.e.f. 1-4-1966. 2. Substituted for (1) Subject to the provisions of sub-section (2), the amount of total income by the Finance Act, 1968, w.e.f. 1-4-1969. 3. Sub-section (2) and Explanation , omitted by the Finance Act, 1968, w.e.f. 1-4-1969.