TDS u/s 193 on Fixed Deposit interest payt has been deducted by Bank. @ 10 %.Now while filing return having salary income and interest income there is a tax payable of Rs 31 which is Edu cess on interest income .All tax with edu cess on salary is already deducted in form 16.Whether any tax liability below 100/- is payable ?
Menu
Income tax liability below rs 100
Replies (1)
Hi Girish,
The sec 288A of Income Tax Act explains of rounding off function means that if the amount is less than 5 the same shall be rounded off to 0 however more than 5 the same shall be rounded off to 10, thus there is no provision of not paying if amount is less than 100,
However if you receive a intimation under CPC and there is a demand which is less than Rs.100 you need not to pay that amount.
Recent Threads
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
Related Threads
CAclubindia
