Rounding off total income to the nearest multiple of ten standardizes the final rupee figure before tax computation. Total income is first truncated by ignoring any paisa; the resulting whole-rupee amount is then rounded to the nearest multiple of ten-rounding up if the ... Summary
Rounding off total income to the nearest multiple of ten standardizes the final rupee figure before tax computation.
Total income is first truncated by ignoring any paisa; the resulting whole-rupee amount is then rounded to the nearest multiple of ten-rounding up if the units digit is five or more and rounding down if it is less than five-and the amount so rounded is the total income for tax computation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
