Computation of total Income

This query is : Resolved

shravan (Querist)
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13 May 2011 Dear all

Section 288A deals with rounding off total income to the nearest multiples of 10.

For the CA exams when solving the problem we comply with 288B. DO WE HAVE TO ROUND OFF U/S 288A ALSO?

o.velavan

o.velavan (Expert)
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13 May 2011 Sir, first understand that, Section 288 is meant computation of total income under income tax act to compute the tax.It is not applicable to CA exam.In CA exam you have to give the correct figure.Other wise you have to put a note that,I have solved this problem after taking into the consideration of Sec 288 of Income Tax Act.Otherwise examiner may treat your calculation as incorrect one;

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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14 May 2011 If you will solve the problem showing complaince of section 288B, your answer may be more impressive. it is my personal opinion

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Nikhil Kothari

Nikhil Kothari (Expert)
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14 May 2011 Agree with expert CA Krishna, quoting section while solving problems in Income Tax gets more attention to evaluator and there are chanceses of fetching more marks in exam.