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
Menu
Tax rates before or after rounding off ?
Replies (1)
Taxable income is rounded off first and then tax rates are applied on that. Tax payable is rounded off to the nearest Rs. 10.
Recent Topics :
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
Related Topics :
CAclubindia
