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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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.
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