Rounding rule of profit and loss account

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Daya

Daya (Querist)
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22 October 2023 what is rounding rule of Profit and loss account and balance sheet according to Scheduled III.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 October 2023 Total Income
Less than one hundred crore rupees
Rounding Off
To the nearest hundreds, thousands, lakhs, millions, or decimals thereof
Total Income
One hundred crore rupees or more
Rounding Off
To the nearest lakhs, millions, crores, or decimals thereof