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516

ITA 2025 · Section 516

Rounding-off of Income - Tax

Chapter XXIII — Miscellaneous and RepealITA 2025AY 2026-27 onward

Section 516 of the Income-tax Act, 2025 corresponds to s. 288 A / 288B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Total income rounded off to nearest INR 10. Tax payable / refundable rounded off to nearest INR 10. PRACTITIONER…

Section 516 — - ROUNDING-OFF OF INCOME / TAX

Section 516 of the Income-tax Act, 2025 corresponds to s. 288A / 288B of the Income-tax Act, 1961.

STATUTORY ARCHITECTURE

Total income rounded off to nearest INR 10. Tax payable / refundable rounded off to nearest INR 10.

PRACTITIONER PLANNING NOTES

  • Mechanical rule; computation utilities apply automatically; ensure ITR utility version current.

CROSS-REFERENCES

  • s. 533 [295] -- Rules.
  • s. 535 [298] -- Removal of difficulty.
  • s. 536 [Repeal] -- Saving clause.
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