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of <h1>Tax Deposit Rules Updated: New Rounding Mechanism Introduced for Section 280Q Income-tax Act Simplifies Calculation Process</h1> The statutory amendment replaces section 280Q of the Income-tax Act, introducing a rounding off mechanism for tax deposits. Deposits will be rounded to the nearest ten rupees, with amounts ending in five or more rupees rounded up and amounts less than five rupees ignored. For multi-installment deposits, each installment except the last will be rounded to the nearest ten rupees, with the final installment adjusted to account for the difference.
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