Tax rates before or after rounding off ?

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Learner
1882 Points Posted on 14 October 2013

Hi Members

Taxable Income of X is Rs. 200004.

After rounding off as per section 288A the taxable income is Rs. 200000.

 

Will X come under the Nil slab or 10%?

 

Thanks

Shivani

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On 14 October 2013 at 14:54 Report
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Consolidation and IndAS Application
1056 Points Posted on 14 October 2013

Taxable income is rounded off first and then tax rates are applied on that. Tax payable is rounded off to the nearest Rs. 10.

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On 14 October 2013 at 15:02

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