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Rounding off of Income – Sec 288A

The total income computed according to the provisions of the act is to be round off to

  • paise is to be ignored.
  • next multiple of ten if the last figure is 5 or more.
  • previous multiple of ten if the last figure is less than 5.

Bare Act of Sec 288A

Bare Act of Sec 288A

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.

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