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Commerce · Q289

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 289

Q289

As per Section 288 A of Income Tax Act, the taxable income shall be rounded off to the nearest multiple of:

A.
Rs. 1 for part of a rupee consisting of paise
B.
Rs. 5 for the nearest divisible number
C.
Rs. 10 for the nearest divisible number
Answer
D.
Rs. 50 for the nearest divisible number
E.
Rs. 100 for the nearest divisible number

Answer: Option C

Solution

Answer: Option C
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