Income tax

B S Dwarakanath (manager) (81 Points)

04 March 2014

Dear Sir

for this FY my tax liability is Rs 3134/-.Can i round it off to Rs 3100/- or i have to pay Rs 3200/-. Pl confirm.

thanking you

B S Dwarakanath

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CA Shivshankar Gupta (B.Com CS FCA LLB DISA ) (325 Points)
Replied 04 March 2014

Tax liability can be rounded off to nearest ten rupees. So in ur case you will hav to pay Rs. 3130/-

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moulali (student) (735 Points)
Replied 04 March 2014

Originally posted by : B S Dwarakanath
	Dear Sir for this FY my tax liability is Rs 3134/-.Can i round it off to Rs 3100/- or i have to pay Rs 3200/-. Pl confirm. thanking you B S Dwarakanath

the net tax liability should be rounded off to nearest multiple of 10

for your case net tax liability ( Rounded off) U/S. 288B Rs.3130.00

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Rupesh Soni (Taxation Consultant & CA final student) (504 Points)
Replied 04 March 2014

NET TAX LIABLITY ROUNDOFF TO NEAREST 10 RS...HERE RS.3130/- U/S 288B

(AFTER DEDUCTING TDS /ADV INCOME TAX )

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