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of <h1>New Income Tax Bill Requires Rounding Tax Amounts to Nearest Ten Rupees Under Clause 516</h1> The Income Tax Bill, 2025, under Clause 516, mandates that the total income or any tax amount payable or refundable be rounded to the nearest multiple of ten rupees. Any fractional rupee amounts are ignored. If the last digit of the amount is five or more, it is rounded up to the next multiple of ten. If the last digit is less than five, it is rounded down to the nearest multiple of ten. The rounded amount is considered the official total income or tax amount for the assessee.
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