Section 288A:
Rounding off of income.
1,2The amount of total income computed in accordance with
the foregoing provisions of this Act shall be rounded off to the nearest multiple of ten rupees and for
this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is
not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be
increased to the next higher amount which is a multiple of ten and if the last figure is less than five,
the amount shall be reduced to the next lower amount which is a multiple of ten; and the amount so
rounded off shall be deemed to be the total income of the assessee for the purposes of this Act.
3
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Notes:
1. Ins. by Act 13 of 1966, s. 34 (w.e.f. 1-4-1966).
2. Subs. by Act 19 of 1968, s. 30 and the Third Schedule, for “(1) Subject to the provisions of sub-section (2), the amount of
total income” (w.e.f. 1-4-1969).
3. Sub-section (2) and Explanation, omitted by s. 30 and the Third Schedule, ibid. (w.e.f. 1-4-1969)