C.A. B.Com (H) Graduate
2151 Points
Joined August 2008
Provisions of TDS are governed by Income Tax Act, 1961 and further Taxation Laws Amendment Act, 2006 modified Sec. 288B of Income Tax Act, which states that
Any amount payable, and the amount of refund due, under the 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.”.
that automatically includes TDS Provisions.